Social services – Abolish mutual obligations

Summary of proposal

The proposal would abolish mutual obligations, ending the current Workforce Australia regime.

The policy would commence on 1 July 2025.

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Social services – Abolish mutual obligations

Summary of proposal

The proposal would abolish mutual obligations, ending the current Workforce Australia regime.

The policy would commence on 1 July 2025.

Read more

40% excess profits tax on corporations with over $100 million in turnover

Summary of proposal

The proposal would introduce a 40% excessive profits tax (EPT) on corporations with over $100 million in turnover. The proposal would allow for a reasonable rate of return (defined as 5% plus the long-term bond rate) on shareholder equity, allows for companies to carry forward credits for years that saw substantial revenue drops, and avoids financial cliffs that discourage smaller enterprises from expanding.

The proposal would start on 1 July 2025.

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40% excess profits tax on corporations with over $100 million in turnover

Summary of proposal

The proposal would introduce a 40% excessive profits tax (EPT) on corporations with over $100 million in turnover. The proposal would allow for a reasonable rate of return (defined as 5% plus the long-term bond rate) on shareholder equity, allows for companies to carry forward credits for years that saw substantial revenue drops, and avoids financial cliffs that discourage smaller enterprises from expanding.

The proposal would start on 1 July 2025.

Read more

40% excess profits tax on corporations with over $100 million in turnover

Summary of proposal

The proposal would introduce a 40% excessive profits tax (EPT) on corporations with over $100 million in turnover. The proposal would allow for a reasonable rate of return (defined as 5% plus the long-term bond rate) on shareholder equity, allows for companies to carry forward credits for years that saw substantial revenue drops, and avoids financial cliffs that discourage smaller enterprises from expanding.

The proposal would start on 1 July 2025.

Read more

40% excess profits tax on corporations with over $100 million in turnover

Summary of proposal

The proposal would introduce a 40% excessive profits tax (EPT) on corporations with over $100 million in turnover. The proposal would allow for a reasonable rate of return (defined as 5% plus the long-term bond rate) on shareholder equity, allows for companies to carry forward credits for years that saw substantial revenue drops, and avoids financial cliffs that discourage smaller enterprises from expanding.

The proposal would start on 1 July 2025.

Read more

Early Childhood Education - Fix Waitlists and Create More Places - $2 billion to establish a Childcare Desert Fund to bring services to high-need areas

Summary of proposal

The proposal would provide $2 billion over 4 years to establish a Childcare Desert Fund to bring services to high-need areas.

The proposal would be non-ongoing, distribute funding evenly over 4 years, include departmental funding within the cap and start from 1 July 2025.

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Early Childhood Education - Fix Waitlists and Create More Places - $2 billion to establish a Childcare Desert Fund to bring services to high-need areas

Summary of proposal

The proposal would provide $2 billion over 4 years to establish a Childcare Desert Fund to bring services to high-need areas.

The proposal would be non-ongoing, distribute funding evenly over 4 years, include departmental funding within the cap and start from 1 July 2025.

Read more

Early Childhood Education - Fix Waitlists and Create More Places - $2 billion to establish a Childcare Desert Fund to bring services to high-need areas

Summary of proposal

The proposal would provide $2 billion over 4 years to establish a Childcare Desert Fund to bring services to high-need areas.

The proposal would be non-ongoing, distribute funding evenly over 4 years, include departmental funding within the cap and start from 1 July 2025.

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Private health insurance rebates

Summary of proposal

The proposal would phase out the Private Health Insurance (PHI) Rebate from 1 July 2026.

The proposal would also remove the Medicare Levy Surcharge (MLS) and Lifetime Health Cover Loading from 1 July 2025.

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