Fast-tracking changes to income tax thresholds in Tuesday's federal budget means Thirroul's Wilde Cafe owner Jonathan Leggett and his wife can savour the special moments with their new baby a little longer.
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The cuts were originally slated for 2022 but are being brought forward and backdated to July 1 this year, meaning most working Australians will get a little extra in their pockets.
Read More: Budget 2020 - the winners and losers
The majority of people earning between $45,000 and $90,000 will take home an additional $1080 a year - or a bit more than $20 a week.
"The extra money for us with take the stress away ... and the costs associated of having a newborn," Mr Leggett told the Mercury.
"Without it, my wife potentially would have to go back to work earlier, so we need any kind of break at the moment to help us pay the bills and support a newborn."
After a "roller-coaster" of a time throughout the COVID-19 pandemic, Mr Leggett said owning a hospitality business had meant life was "very uncertain and unstable".
"The hardest thing for me through [the pandemic] was trying to balance keeping staff in a job so they could pay their bills, but also leave enough money for me to pay my bills," he said.
Other changes to tax thresholds include the highest bracket of $180,000 moving to $200,000, and the lower threshold of the 37 per cent bracket pushed from $90,000 to $120,000.
The lowest 19 per cent tax bracket increases from $37,000 to $45,000.
This year's federal budget has a heavy focus on jobs and building for the future following the economic devastation caused by the COVID-19 pandemic.
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