Government policy changes
Some of the measures the new Government will not proceed with are:
• Self Education Expenses Cap
• The Government will not proceed with putting a $2,000 cap on the amount people can deduct as self education expenses.
• Labor’s $1.8 billion Fringe Benefits Tax hit on the car industry.
• The Coalition Government has confirmed it will not proceed with this measure.
• Tax on Superannuation Pensions
The Coalition Government will not proceed with Labor’s announcement which would have taxed people’s superannuation pension earnings above $100,000 in the draw down phase.
The complexity and compliance costs associated with this initiative were extreme and essentially undeliverable.
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