Lowering the PRRT deductions cap

Summary of proposal

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.

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Tariff revenue impacts of the Korea, Japan and China free trade agreements

Summary of proposal

The request sought information on the amount of forgone tariff revenue for the Korea, Japan and China free trade agreements (FTA) broken down by industry classification over the 2015–16 Budget forward estimates period.

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Financing state property tax reform

Summary of proposal

Under this proposal the Commonwealth Government would provide concessional loans to state and territory governments (excluding the ACT) to enable them to replace their existing stamp duty on sales of residential and non-residential property with a broad based land tax.

From 1 July 2017, property acquisitions would not be liable for stamp duty, but would instead commence paying an annual land tax.

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Financing state property tax reform

Summary of proposal

Under this proposal the Commonwealth Government would provide concessional loans to state and territory governments (excluding the ACT) to enable them to replace their existing stamp duty on sales of residential and non-residential property with a broad based land tax.

From 1 July 2017, property acquisitions would not be liable for stamp duty, but would instead commence paying an annual land tax.

Read more

Financing state property tax reform

Summary of proposal

Under this proposal the Commonwealth Government would provide concessional loans to state and territory governments (excluding the ACT) to enable them to replace their existing stamp duty on sales of residential and non-residential property with a broad based land tax.

From 1 July 2017, property acquisitions would not be liable for stamp duty, but would instead commence paying an annual land tax.

Read more

Financing state property tax reform

Summary of proposal

Under this proposal the Commonwealth Government would provide concessional loans to state and territory governments (excluding the ACT) to enable them to replace their existing stamp duty on sales of residential and non-residential property with a broad based land tax.

From 1 July 2017, property acquisitions would not be liable for stamp duty, but would instead commence paying an annual land tax.

Read more

Improving wage growth

Summary of proposal

The proposal would increase the salaries of public servants with Australian Public Service (APS) classifications levels below the Executive Level 1 classification to:

  • Option 1: 4.0 per cent per annum.
  • Option 2: 5.0 per cent per annum.

The increase in departmental appropriations would be exempt from the efficiency dividend.

The proposal would commence on 1 July 2018 and terminate on 30 June 2023.

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Improving wage growth

Summary of proposal

The proposal would increase the salaries of public servants with Australian Public Service (APS) classifications levels below the Executive Level 1 classification to:

  • Option 1: 4.0 per cent per annum.
  • Option 2: 5.0 per cent per annum.

The increase in departmental appropriations would be exempt from the efficiency dividend.

The proposal would commence on 1 July 2018 and terminate on 30 June 2023.

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Improving wage growth

Summary of proposal

The proposal would increase the salaries of public servants with Australian Public Service (APS) classifications levels below the Executive Level 1 classification to:

  • Option 1: 4.0 per cent per annum.
  • Option 2: 5.0 per cent per annum.

The increase in departmental appropriations would be exempt from the efficiency dividend.

The proposal would commence on 1 July 2018 and terminate on 30 June 2023.

Read more

Improving wage growth

Summary of proposal

The proposal would increase the salaries of public servants with Australian Public Service (APS) classifications levels below the Executive Level 1 classification to:

  • Option 1: 4.0 per cent per annum.
  • Option 2: 5.0 per cent per annum.

The increase in departmental appropriations would be exempt from the efficiency dividend.

The proposal would commence on 1 July 2018 and terminate on 30 June 2023.

Read more