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ARTICLE · 12 OCTOBER 2013

What does tax look like under a Coalition government?

Moore Australia
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. This is a rundown on some of the more important promises and commitments of the new government before the election. .

AustraliaStrategy
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Now that the Abbott government is settling in, it is worthwhile to look at their promises and the commitments that they made in the run-up to the election.

Here's a rundown on some of the more important commitments, although many don't have effective dates:

  • Self education expenses: There will be no $2,000 cap on self-education expense deductibility.
  • FBT and cars: The statutory formula method for car fringe benefits will not be abolished.
  • Company tax rate to be cut to 28.5% from 1 July 2015.
  • No changes to the GST rate before the next election – although a proposed Tax Reform White Paper may cover possible GST reforms.
  • Abolish the carbon tax.
  • Abolish the mining resource rent tax (MRRT).

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