The proposal would end special tax treatment for fossil fuels by closing loopholes such as accelerated asset depreciation and the immediate deduction for exploration and prospecting in the oil and gas sector. The proposal would also mandate the payment of royalties.

The proposal has two components that would have effect from 1 July 2025.

The proposal would introduce a 40% excessive profits tax (EPT) on corporations with over $100 million in turnover. The proposal would allow for a reasonable rate of return (defined as 5% plus the long-term bond rate) on shareholder equity, allows for companies to carry forward credits for years that saw substantial revenue drops, and avoids financial cliffs that discourage smaller enterprises from expanding.

The proposal would start on 1 July 2025.

The proposal would introduce a 40% excessive profits tax (EPT) on corporations with over $100 million in turnover. The proposal would allow for a reasonable rate of return (defined as 5% plus the long-term bond rate) on shareholder equity, allows for companies to carry forward credits for years that saw substantial revenue drops, and avoids financial cliffs that discourage smaller enterprises from expanding.

The proposal would start on 1 July 2025.

The proposal would introduce a 40% excessive profits tax (EPT) on corporations with over $100 million in turnover. The proposal would allow for a reasonable rate of return (defined as 5% plus the long-term bond rate) on shareholder equity, allows for companies to carry forward credits for years that saw substantial revenue drops, and avoids financial cliffs that discourage smaller enterprises from expanding.

The proposal would start on 1 July 2025.

The proposal would introduce a 40% excessive profits tax (EPT) on corporations with over $100 million in turnover. The proposal would allow for a reasonable rate of return (defined as 5% plus the long-term bond rate) on shareholder equity, allows for companies to carry forward credits for years that saw substantial revenue drops, and avoids financial cliffs that discourage smaller enterprises from expanding.

The proposal would start on 1 July 2025.

The proposal would allow small businesses to claim a $2,000 bonus tax deduction for eligible technology investments which exceed $4,000 in value. Eligible technology would include digital enabling technology, digital media and marketing, e-commerce tools and cyber security systems. Only businesses with turnover up to $10 million would be eligible.

The proposal would start on 1 July 2025 and end on 30 June 2027.

The proposal would allow small businesses to claim a $2,000 bonus tax deduction for eligible technology investments which exceed $4,000 in value. Eligible technology would include digital enabling technology, digital media and marketing, e-commerce tools and cyber security systems. Only businesses with turnover up to $10 million would be eligible.

The proposal would start on 1 July 2025 and end on 30 June 2027.

The proposal would allow small businesses to claim a $2,000 bonus tax deduction for eligible technology investments which exceed $4,000 in value. Eligible technology would include digital enabling technology, digital media and marketing, e-commerce tools and cyber security systems. Only businesses with turnover up to $10 million would be eligible.

The proposal would start on 1 July 2025 and end on 30 June 2027.

The proposal would allow small businesses to claim a $2,000 bonus tax deduction for eligible technology investments which exceed $4,000 in value. Eligible technology would include digital enabling technology, digital media and marketing, e-commerce tools and cyber security systems. Only businesses with turnover up to $10 million would be eligible.

The proposal would start on 1 July 2025 and end on 30 June 2027.

The proposal would reverse in full the measure announced in the 2023-24 Budget – Better Targeted Superannuation Concessions.

The proposal would start on 1 July 2025.