Friends With Money #141: Stage 3 tax cuts explained

Hosted By

Tom Watson

Guests

Mark Chapman

Published

March 6, 2024

Australians are set to pay less income tax from July this year, so what's changed and who will benefit the most?

This week on the Friends With Money podcast, Money's Tom Watson is joined by the director of tax communications at H&R Block, Mark Chapman, to discuss the revamped Stage 3 tax cuts.

Why were the Stage 3 tax cuts proposed in the first place?
What did the original Stage 3 cuts look like?
What changes has the government made, and why?
How much money can taxpayers expect to save?
How quickly will people notice a difference in their pay

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Friends With Money is a weekly personal finance podcast by Money magazine, offering expert insights on investing, budgeting, superannuation, property, and other money strategies for everyday Australians.

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Episodes are hosted by Vanessa Walker and Tom Watson from Money magazine, featuring expert guests and real conversations about money.

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TAGS

cost of living, friends with money podcast, tax

Tom Watson

Tom Watson is a senior journalist at Money magazine, and one of the hosts of the Friends With Money podcast. He's previously worked as a journalist covering everything from property and consumer banking to financial technology. Tom has a Bachelor of Communication (Journalism) from the University of Technology, Sydney. Connect with Tom Watson on LinkedIn.

Mark Chapman

Mark Chapman is director of tax communications at H&R Block, Australia's largest firm of tax accountants, and is a regular contributor to Money. Mark is a Chartered Accountant, CPA and Chartered Tax Adviser and holds a Masters of Tax Law from the University of New South Wales. Previously, he was a tax adviser for over 20 years, specialising in individual and small business tax, in both the UK and Australia. As well as operating his own private practice, Mark spent seven years as a Senior Director with the Australian Taxation Office. He is the author of Life and Taxes: A Look at Life Through Tax. Connect with Mark Chapman on LinkedIn.