As part of its focus on easing cost of living pressures, the Australian government has announced that all 13.6 million taxpayers in Australia will receive a tax cut on July 1 through the already legislated stage 3 tax cuts. In addition to this, households, small businesses and renters, amongst others, will benefit from a range of rebates aimed at easing cost of living pressures. While it’s good news for Australian taxpayers, tax cuts could also impact borrowing power, opening the doors for first home buyers and those looking to upgrade their home.
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