Malcolm Turnbull will enjoy a $129 a week tax cut in July while millions of lowly paid Australians will go without tax relief for the fifth consecutive year.

Calculations for The West Australian show the Prime Minister will get a $6740 a year tax cut from July 1 when the temporary Federal Budget deficit repair levy is removed.

On his $517,000 base pay, Mr Turnbull pays more than $212,622 in income tax. From the 2017-18 financial year, this will fall to $205,882.

Deputy PM Barnaby Joyce will get a $4560 a year tax cut or almost $88 a week. For other members of the Cabinet, the end of the levy will leave their pay packets more than $64 a week bigger.

Combined, the ministry will share in $112,000 worth of income tax relief in the coming financial year.

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The 2 per cent levy, imposed on people with incomes of more than $180,000, was introduced in 2014 to raise $3.1 billion to improve the Budget bottom line. The Budget then ran a $37.9 billion deficit.

The legislation underpinning the levy requires it to end this financial year, but the Budget was expected to show a deficit of $36.5 billion.

The Government is poised to ditch up to $13 billion of Budget savings, including cuts to family tax and unemployment benefits, leaving it clamouring to find new ways to repair the nation’s finances.

Some MPs have privately canvassed the idea of extending the levy, which raises about $1.2 billion a year.

Senator Nick Xenophon said he believed the levy should stay rather than the Government making deep cuts to low-income groups.

“This shows high-income earners, including MPs, will get a tax windfall while single parents will have massive cuts in their already small incomes,” he said.

Pressed on the issue last year, Treasurer Scott Morrison said it was not on the Government’s agenda.

“It will run out at the end of next year and that’s what was always proposed,” he said.

Ending the levy would be on top of the tax cut delivered to those earning more than $80,000 a year in last year’s Budget. It also means more than 10 million people earning less than $80,000 have not had an income tax cut since the introduction of the carbon tax in 2012-13.