With the election of a new Coalition Government on the weekend, it is important to consider the taxation law and tax-related changes the Government has announced as part of its intended tax policy.

These changes range from the abolition of the Carbon Tax and Mining Tax to the implementation of income tax rate changes associated with a revised parental leave scheme. There is also a promise to ‘reserve the right’ to proceed with some or all of the proposed but unenacted tax reform measures announced by the previous Labor Government as part of the 2013 Federal Budget.

The Coalition has also committed to produce a White paper within three years regarding options for lower, simpler, fairer taxes for higher economic growth and better and more sustained services.

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