Treasurer Josh Frydenberg said the government is looking at the timing of sweeping tax reform in the wake of COVID-19 spending.
Under the reforms, the government proposes expanding the central tax bracket to between $45,000 income a year and $200,000 a year with a rate of 30 per cent.
“As you say there’s an extended timetable that comes out in three different stages and we will look at the timing of the tax cuts and in accordance with our budget processes,” Mr Frydenberg told Today.
“But what we do know is that these are real serious tax reforms.”
Yesterday in a fiscal update – dubbed a “mini budget” – the Treasurer revealed the budget deficit for this year would be the largest since World War II.
Total COVID-19 spending, including initiatives like JobKeeper and JobSeeker, has totalled $289 billion or 14.6 per cent of GDP.