First Home Buyer Mortgage Tax Deductibility Scheme

Summary of proposal

The proposal would allow first home buyers, who purchase a newly built home, the ability to deduct the interest paid on up to $650,000 of their mortgage from their assessable income. There is no cap on the size of a mortgage captured under this policy.

The measure will be available to individuals earning up to $175,000 and joint applicants earning up to $250,000. Once found eligible, participants will retain access to the deduction even if their income rises.

The deduction can be claimed for up to 5 years, if the home is the principal place of residence.

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First Home Buyer Mortgage Tax Deductibility Scheme

Summary of proposal

The proposal would allow first home buyers, who purchase a newly built home, the ability to deduct the interest paid on up to $650,000 of their mortgage from their assessable income. There is no cap on the size of a mortgage captured under this policy.

The measure will be available to individuals earning up to $175,000 and joint applicants earning up to $250,000. Once found eligible, participants will retain access to the deduction even if their income rises.

The deduction can be claimed for up to 5 years, if the home is the principal place of residence.

Read more

First Home Buyer Mortgage Tax Deductibility Scheme

Summary of proposal

The proposal would allow first home buyers, who purchase a newly built home, the ability to deduct the interest paid on up to $650,000 of their mortgage from their assessable income. There is no cap on the size of a mortgage captured under this policy.

The measure will be available to individuals earning up to $175,000 and joint applicants earning up to $250,000. Once found eligible, participants will retain access to the deduction even if their income rises.

The deduction can be claimed for up to 5 years, if the home is the principal place of residence.

Read more

Replace biosecurity protection levy with import container levy

Summary of proposal

The proposal would establish a new Sustainable Biosecurity Funding Model that includes an import container levy.

The proposal would be ongoing and start on 1 July 2025

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Replace biosecurity protection levy with import container levy

Summary of proposal

The proposal would establish a new Sustainable Biosecurity Funding Model that includes an import container levy.

The proposal would be ongoing and start on 1 July 2025

Read more

Replace biosecurity protection levy with import container levy

Summary of proposal

The proposal would establish a new Sustainable Biosecurity Funding Model that includes an import container levy.

The proposal would be ongoing and start on 1 July 2025

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Regulation and taxation of vaping products

Summary of proposal

The proposal would legalise e-cigarettes in a regulated environment similar to that for tobacco cigarettes.

E-liquid would be subject to an excise rate of $1.00 per millilitre (mL).

The proposal would be ongoing and start on 1 July 2025.

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Regulation and taxation of vaping products

Summary of proposal

The proposal would legalise e-cigarettes in a regulated environment similar to that for tobacco cigarettes.

E-liquid would be subject to an excise rate of $1.00 per millilitre (mL).

The proposal would be ongoing and start on 1 July 2025.

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Regulation and taxation of vaping products

Summary of proposal

The proposal would legalise e-cigarettes in a regulated environment similar to that for tobacco cigarettes.

E-liquid would be subject to an excise rate of $1.00 per millilitre (mL).

The proposal would be ongoing and start on 1 July 2025.

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Creating a small business and primary producer energy incentive

Summary of proposal

The proposal would reintroduce the Small Business Energy Incentive (SBEI) and extend the duration of SBEI for 3 years. The proposal would also increase the bonus tax deduction up to $30,000 for eligible technology and assets that make their businesses more energy efficient.

The proposal is eligible for small and medium businesses (including all primary producers) with turnover up to $50 million.

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