This proposal would introduce a new mining super‐profits tax on minerals projects in Australia that is based on the former minerals resource rent tax but includes some important differences in design. The proposed mining super‐profits tax would be levied at 40 per cent of the net value of mine revenue, minus expenses.

This proposal would introduce a new mining super‐profits tax on minerals projects in Australia that is based on the former minerals resource rent tax but includes some important differences in design. The proposed mining super‐profits tax would be levied at 40 per cent of the net value of mine revenue, minus expenses.

This proposal has two components.

Component 1 – Increased salary and wage deductions for small companies

• Component 1 of the proposal would allow companies with annual turnovers under $2 million to claim tax deductions equal to 110 per cent of their total wage and salary expenses. The value of the additional deductions would be uncapped, but would not be carried forward.

Component 2 – Increase the goods and services tax (GST) registration threshold

This proposal has two components.

Component 1 – Increased salary and wage deductions for small companies

• Component 1 of the proposal would allow companies with annual turnovers under $2 million to claim tax deductions equal to 110 per cent of their total wage and salary expenses. The value of the additional deductions would be uncapped, but would not be carried forward.

Component 2 – Increase the goods and services tax (GST) registration threshold

The proposal has three components that would provide support for the Australian video game industry with investment and tax incentives.

Component 1 – Establish a Games Investment and Enterprise Fund, with investment of $100 million evenly split over 2019‐20, 2020‐21 and 2021‐22.  

Component 2 – Extend the producer tax offset and the post, digital or visual effects tax offset to video game developers.

Component 3 – Allocate $5 million in 2019‐20 to assist in the development of creative co‐working spaces.

This proposal has three components that would increase support for the creative industry.

Component 1: Invest in Australian creativity through the following five elements.

This proposal would modify the current paid parental leave scheme as follows.

The proposal has four componentsto increase expenditure to support Australian science, research and innovation.

Component 1 – Establish an additional non-refundable tax offset of 20per centfor companies that hire science, technology, engineering and mathematics(STEM) PhD students or equivalent graduates in their first three years of employment.

Component 2 – Restore the Sustainable Research Excellence grants program, which ceased in December 2016.

The proposal has four componentsto increase expenditure to support Australian science, research and innovation.

Component 1 – Establish an additional non-refundable tax offset of 20per centfor companies that hire science, technology, engineering and mathematics(STEM) PhD students or equivalent graduates in their first three years of employment.

Component 2 – Restore the Sustainable Research Excellence grants program, which ceased in December 2016.

This proposal has two components:

• Component 1 would reduce Department of Defence expenditure on a steady, linear trajectory in order to reach 1.5 per cent of GDP by 2022‐23.
• Component 2 would abolish the Defence Export Facility.

The proposal would have effect from 1 July 2019.