In the Federal Budget 2021-23, the coalition government planned three tax cuts. The progressive tax bracket will be reduced until 2028.

Explain the impact of the tax cut on households and individuals' disposable income and consumption.(4 Marks)

Explain how the tax cut will change the government budget position.(2 Marks)

Explain the impact of the tax on the Aggregate demand of the economy and how it does affect the GDP? (4 Marks)