Implied budget cost of supporting rentals through investors' tax breaks

Summary of proposal

The request sought the following figures over the forward estimates and medium term:

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Implied budget cost of supporting rentals through investors' tax breaks

Summary of proposal

The request sought the following figures over the forward estimates and medium term:

Read more

Implied budget cost of supporting rentals through investors' tax breaks

Summary of proposal

The request sought the following figures over the forward estimates and medium term:

Read more

Implied budget cost of supporting rentals through investors' tax breaks

Summary of proposal

The request sought the following figures over the forward estimates and medium term:

Read more

Implied budget cost of supporting rentals through investors' tax breaks

Summary of proposal

The request sought the following figures over the forward estimates and medium term:

Read more

Lowering the PRRT deductions cap

Summary of proposal

This proposal would change the deductions cap introduced in the Petroleum Resource Rent Tax (PRRT) measure in the 2023-24 Budget, Petroleum Resource Rent Tax – Government Response to the Review of the PRRT Gas Transfer Pricing arrangements (the 2023-24 measure). This measure affects 5 major offshore liquefied natural gas (LNG) projects:

  • Gorgon
  • Ichthys
  • Wheatstone
  • Pluto
  • Prelude.

Under the proposal, the cap would limit deductible expenditure to the value of 80% of each taxpayer’s PRRT assessable receipts.

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Lowering the PRRT deductions cap

Summary of proposal

This proposal would change the deductions cap introduced in the Petroleum Resource Rent Tax (PRRT) measure in the 2023-24 Budget, Petroleum Resource Rent Tax – Government Response to the Review of the PRRT Gas Transfer Pricing arrangements (the 2023-24 measure). This measure affects 5 major offshore liquefied natural gas (LNG) projects:

  • Gorgon
  • Ichthys
  • Wheatstone
  • Pluto
  • Prelude.

Under the proposal, the cap would limit deductible expenditure to the value of 80% of each taxpayer’s PRRT assessable receipts.

Read more

Lowering the PRRT deductions cap

Summary of proposal

This proposal would change the deductions cap introduced in the Petroleum Resource Rent Tax (PRRT) measure in the 2023-24 Budget, Petroleum Resource Rent Tax – Government Response to the Review of the PRRT Gas Transfer Pricing arrangements (the 2023-24 measure). This measure affects 5 major offshore liquefied natural gas (LNG) projects:

  • Gorgon
  • Ichthys
  • Wheatstone
  • Pluto
  • Prelude.

Under the proposal, the cap would limit deductible expenditure to the value of 80% of each taxpayer’s PRRT assessable receipts.

Read more

Fully funding Public Schools

Summary of proposal

The proposal would increase the Australian government’s share of funding for public schools from approximately 20% (some schools are funded at a slightly higher rate) of the Schooling Resource Standard (SRS) in 2023 to 25% in 2028.

The Australian government’s share of the SRS amount for each school would increase in equal proportions between 2024 and 2028.

The policy would commence on 1 January 2024 and would be ongoing.

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Fully funding Public Schools

Summary of proposal

The proposal would increase the Australian government’s share of funding for public schools from approximately 20% (some schools are funded at a slightly higher rate) of the Schooling Resource Standard (SRS) in 2023 to 25% in 2028.

The Australian government’s share of the SRS amount for each school would increase in equal proportions between 2024 and 2028.

The policy would commence on 1 January 2024 and would be ongoing.

Read more