PERSONAL TAXATION
- Personal tax cuts: Immediate major low-mid tax offset increase, other rate changes from 2022 to result in only 3 rates by 2024-25
- Medicare levy low-income thresholds for 2018-19
- Extending FTB to ABSTUDY recipients aged 16 and over who study away from home
- Concessional FHA treatment for income from forced disposal of livestock
BUSINESS TAXATION
- Instant asset write-off extended to more taxpayers, threshold up
- Tax Avoidance Taskforce on Large Corporates etc: more funding
- Tax exemption for North Queensland floods grants
- Tax exemption for primary producers affected by Queensland storms
- Tax integrity focus on unpaid tax and super by larger businesses
SUPERANNUATION
- Super contributions work test exemption extended to age 66; spouse contributions age limit increased
- Exempt current pension income calculation to be simplified for super funds
- Tax relief for merging superannuation funds to be made permanent
- Super insurance opt-in rule for low-balances – delayed start date confirmed
OTHER MEASURES
- EMDG scheme – extra $60 million in funding
- Skills package – new apprenticeships, incentive payment, training
- Seasonal Worker Programme – pilot to address regional workforce shortages