The proposal would provide a Cost of Living Tax Offset of up to $1,200 for eligible Australians in the 2025-26 financial year.

The Cost of Living Tax Offset would be available to Australian residents for tax purposes who are earning an annual taxable income of up to $144,000.The offset would be non-refundable.

The arrangements for the offset amounts will be as follows:

The proposal would provide a Cost of Living Tax Offset of up to $1,200 for eligible Australians in the 2025-26 financial year.

The Cost of Living Tax Offset would be available to Australian residents for tax purposes who are earning an annual taxable income of up to $144,000.The offset would be non-refundable.

The arrangements for the offset amounts will be as follows:

The proposal would repeal the policy, Personal income tax – new tax cuts for every Australian taxpayer, announced on 25 March 2025.

For income between $18,201 and $45,000:

• the 15% tax rate from 1 July 2026 will be increased to 16%
• the 14% tax rate from 1 July 2027 will be increased to 16%.

The proposal would start on 1 July 2026 and be ongoing.

The proposal would repeal the policy, Personal income tax – new tax cuts for every Australian taxpayer, announced on 25 March 2025.

For income between $18,201 and $45,000:

• the 15% tax rate from 1 July 2026 will be increased to 16%
• the 14% tax rate from 1 July 2027 will be increased to 16%.

The proposal would start on 1 July 2026 and be ongoing.

The proposal would:

• phase out the export of thermal coal
• require tradeable permits to export coal
• place a levy on all coal exports.

Component 1 – Thermal coal

The policy will place an export cap on thermal coal exports, using tradable permits issued by the Commonwealth to decrease the maximum allowable annual thermal coal exports from 200 million tonnes in 2025 to 0 tonnes by 1 July 2030.

The proposal would:

• phase out the export of thermal coal
• require tradeable permits to export coal
• place a levy on all coal exports.

Component 1 – Thermal coal

The policy will place an export cap on thermal coal exports, using tradable permits issued by the Commonwealth to decrease the maximum allowable annual thermal coal exports from 200 million tonnes in 2025 to 0 tonnes by 1 July 2030.

The proposal would:

• phase out the export of thermal coal
• require tradeable permits to export coal
• place a levy on all coal exports.

Component 1 – Thermal coal

The policy will place an export cap on thermal coal exports, using tradable permits issued by the Commonwealth to decrease the maximum allowable annual thermal coal exports from 200 million tonnes in 2025 to 0 tonnes by 1 July 2030.

The proposal would reverse the Critical Minerals Production Tax Credit program, a component of the 2024-25 Budget measure, Future made in Australia – Making Australia a Renewable Energy Superpower, which is expected to start on 1 July 2027.

The proposal would reverse the Critical Minerals Production Tax Credit program, a component of the 2024-25 Budget measure, Future made in Australia – Making Australia a Renewable Energy Superpower, which is expected to start on 1 July 2027.

The proposal would double the asset cap for early stage venture capital limited partnerships from $50 million to $100 million, and lift the venture capital cap to $500 million. From July 2026, both caps would be indexed with the consumer price index (CPI).

The proposal would start on 1 July 2025.