Ten million face hip pocket hit without budget tax cut We’re sorry, this service is currently unavailable. Please try again later. Dismiss Normal text size Advertisement The Morrison government and the opposition will have to promise tens of billions of dollars’ worth of personal income tax cuts to 10 million workers on low and middle incomes — many of them women — or risk slowing Australia’s recovery from the pandemic. Analysis for The Age and The Sydney Morning Herald shows people earning less than $126,000 a year face a tax hike from next financial year. Without any change, about 3.4 million people will be $1080 a year worse off while another 7 million will have less take-home pay, according to the analysis by the Bankwest Curtin Economics Research Centre.