The proposal would increase the Major Bank Levy from the current level (0.06% per annum, 0.015 per quarter) by 10% to the proposed level (0.066% per annum, 0.0165% per quarter). 

The additional revenue would be used to co-fund community banks. 

The proposal is ongoing with a start date of 1 July 2024.

The proposal would increase the Major Bank Levy from the current level (0.06% per annum, 0.015 per quarter) by 10% to the proposed level (0.066% per annum, 0.0165% per quarter). 

The additional revenue would be used to co-fund community banks. 

The proposal is ongoing with a start date of 1 July 2024.

The proposal has 5 options, which make changes to the capital gains tax (CGT) discount and negative gearing arrangements (which allow losses relating to an investment property to be deducted from non-investment income) for all individuals, trusts, partnerships and superannuation funds, as per the below table. All options would take effect from 1 July 2024.

The proposal has 5 options, which make changes to the capital gains tax (CGT) discount and negative gearing arrangements (which allow losses relating to an investment property to be deducted from non-investment income) for all individuals, trusts, partnerships and superannuation funds, as per the below table. All options would take effect from 1 July 2024.

The proposal has 5 options, which make changes to the capital gains tax (CGT) discount and negative gearing arrangements (which allow losses relating to an investment property to be deducted from non-investment income) for all individuals, trusts, partnerships and superannuation funds, as per the below table. All options would take effect from 1 July 2024.

The request sought details of the total value of the tax exemption given to universities/higher education institutions for the income received from foreign students.  

Under the proposal, the Australian Government would act as a public property developer, building homes and selling them at close to cost, or retaining them to rent out as public or affordable housing.

Under the proposal, the Australian Government would act as a public property developer, building homes and selling them at close to cost, or retaining them to rent out as public or affordable housing.

Under the proposal, the Australian Government would act as a public property developer, building homes and selling them at close to cost, or retaining them to rent out as public or affordable housing.

The request sought estimated financial implications and distributional analysis of the Government’s revised Stage 3 tax cut changes announced on 25 January 2024, relative to 2023-24 tax settings. The revised Stage 3 tax cuts take effect from 1 July 2024.