Costing (publicly release)

Alternative MRFF disbursements allocated to the ten year medical research plan

Summary of proposal

Summary of request:

The request sought details of the Medical Research Future Fund’s (MRFF) expected performance and balances over the next 10 years, with 3 scenarios for the level of disbursement from the fund from 1 July 2025:

Scenario 1: $650 million disbursed yearly
Scenario 2: $750 million disbursed yearly
Scenario 3: $1 billion disbursed yearly

The Progressive GST

Summary of proposal

Summary of proposal:

The proposal contains the following options, comprising changes to the Goods and Services Tax (GST).

Option 1: Increase the GST rate from 10% to 15%.

Option 2: Increase the GST rate from 10% to 15% and remove GST exemptions on:

i. food

ii. education

The Progressive GST

Summary of proposal

Summary of proposal:

The proposal contains the following options, comprising changes to the Goods and Services Tax (GST).

Option 1: Increase the GST rate from 10% to 15%.

Option 2: Increase the GST rate from 10% to 15% and remove GST exemptions on:

i. food

ii. education

The Progressive GST

Summary of proposal

Summary of proposal:

The proposal contains the following options, comprising changes to the Goods and Services Tax (GST).

Option 1: Increase the GST rate from 10% to 15%.

Option 2: Increase the GST rate from 10% to 15% and remove GST exemptions on:

i. food

ii. education

GST threshold change

Summary of proposal

The proposal increases the mandatory turnover threshold for GST registration from $75,000 to $250,000 for businesses and non-profit organisations.