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Australian Associated Press was formed in 1935 as the national news agency of Australia. Today AAP is Australia's largest independent originator and aggregator of news and information, serving the media, government, business and financial markets.

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Latest Press Release
Prime Minister Malcolm Turnbull during Question Time in the House of Representatives at Parliament House in Canberra, Monday, May 21, 2018. (AAP Image/Mick Tsikas)

Prime Minister Malcolm Turnbull during Question Time in the House of Representatives at Parliament House in Canberra, Monday, May 21, 2018. (AAP Image/Mick Tsikas)

FED: Labor looks at tax plan, govt won't split

Date: Tue 22 May 2018

Labor has left the door open to supporting the second stage of the Turnbull government's income tax plan, but the coalition still won't be splitting its package.

The opposition already supports the first part of the income tax cut plan, which starts with a reduction of up to $530 a year under a low and middle-income tax offset.

It remains coy on changes to certain tax brackets at various stages, awaiting further details.

Labor finance spokesman Jim Chalmers says the party is still discussing the second phase.

"We're going to have a conversation about it internally. We've said we're not wild about stage three; we said we're keen on 1 July; we're still having a conversation about stage two," he told Sky News.

Source: AAP Australian General News