The legislated cuts lower the 32.5 per cent and 37 per cent marginal tax rates to 30 per cent and flatten the tax structure for people earning between $45,000 and $200,000.

They were bundled together with other tax changes that passed parliament in 2019.

Labor leader Anthony Albanese said the tax package was passed by parliament in 2019 when the government promised a budget surplus that year and every year into the future.

Instead, there is "red ink as far as the eye can see" and now there is a trillion dollars worth of government debt.

"We'll make our announcements well before the election," Mr Albanese told Sky News' Sunday Agenda program.

"We have been absolutely right to not make a decision in 2019 about what the economy would look like 2024."

Deputy Labor leader Richard Marles also insists a decision hasn't been made, but has again appeared less willing to reject them.

"I've said our instinct in respect of tax has been we don't want to get in the way of a tax cut," he told ABC's Insiders program.

"The answer which we've been really clear on consistently is that we will make that decision in good and proper time before the next election - the term of government which will actually see that tax cut come into play."

Australian Associated Press