The policy would create an Entrepreneur Accelerator Tax Incentive (EATI) that reduces the taxable income for new companies. Under the EATI, start-ups will receive a tapered reduction in tax on their first $200,000 of taxable income over three years. The reduction would only be available to incorporated entities (companies) and would be available for the first 3 years after a company’s incorporation.

The policy start date is 1 July 2025.

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

Component 1

Replace the existing petroleum resource rent tax (PRRT) method of uplifting excess expenditure to future years that relates to PRRT projects with the following method.

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

Component 1

Replace the existing petroleum resource rent tax (PRRT) method of uplifting excess expenditure to future years that relates to PRRT projects with the following method.

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

Component 1

Replace the existing petroleum resource rent tax (PRRT) method of uplifting excess expenditure to future years that relates to PRRT projects with the following method.

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

Component 1

Replace the existing petroleum resource rent tax (PRRT) method of uplifting excess expenditure to future years that relates to PRRT projects with the following method.

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

Component 1

Replace the existing petroleum resource rent tax (PRRT) method of uplifting excess expenditure to future years that relates to PRRT projects with the following method.

The proposal would introduce a new 40% Coal and mining tax (CMT) on the super profits of individual Australian mining projects, where the super profits would be calculated at the project level as revenue less expenses. 

The proposal would introduce a new 40% Coal and mining tax (CMT) on the super profits of individual Australian mining projects, where the super profits would be calculated at the project level as revenue less expenses. 

The proposal would introduce a new 40% Coal and mining tax (CMT) on the super profits of individual Australian mining projects, where the super profits would be calculated at the project level as revenue less expenses. 

The proposal would introduce a new excessive profits tax at a rate of 40% that would apply to company profits that exceed an allowance for a corporate equity threshold with effect from 1 July 2025.

Only post-company tax Australian-sourced profits would be subject to the excessive profits tax and the allowance for corporate equity threshold would equal shareholder equity multiplied by 5% plus the long-term bond rate.