The request sought estimated financial implications and distributional analysis of Stage 3 of the personal income tax plan as set out in the 2018-19 Budget measure Personal income tax plan and the 2019-20 Budget measure Lower taxes for hard-working Australians: Building on the Personal Income Tax Plan over the medium-term. The Stage 3 tax cuts take effect from 1 July 2024 and involve:

The request sought the following figures over the forward estimates and medium term:

The request sought the following figures over the forward estimates and medium term:

The request sought the following figures over the forward estimates and medium term:

The request sought the following figures over the forward estimates and medium term:

The request sought the following figures over the forward estimates and medium term:

The request sought the following figures over the forward estimates and medium term:

The request sought the following figures over the forward estimates and medium term:

This proposal would change the deductions cap introduced in the Petroleum Resource Rent Tax (PRRT) measure in the 2023-24 Budget, Petroleum Resource Rent Tax – Government Response to the Review of the PRRT Gas Transfer Pricing arrangements (the 2023-24 measure). This measure affects 5 major offshore liquefied natural gas (LNG) projects:

• Gorgon
• Ichthys
• Wheatstone
• Pluto
• Prelude.

Under the proposal, the cap would limit deductible expenditure to the value of 80% of each taxpayer’s PRRT assessable receipts.

This proposal would change the deductions cap introduced in the Petroleum Resource Rent Tax (PRRT) measure in the 2023-24 Budget, Petroleum Resource Rent Tax – Government Response to the Review of the PRRT Gas Transfer Pricing arrangements (the 2023-24 measure). This measure affects 5 major offshore liquefied natural gas (LNG) projects:

• Gorgon
• Ichthys
• Wheatstone
• Pluto
• Prelude.

Under the proposal, the cap would limit deductible expenditure to the value of 80% of each taxpayer’s PRRT assessable receipts.