The proposal would increase the base amount of the low and middle income tax offset from $255 to $350.   

The $350 offset would be available to individuals with taxable incomes less than $37,000. The base amount would increase at a rate of 6.64 cents per dollar to the maximum offset of $1,080 for individuals with taxable incomes between $37,000 and $48,000.  

The proposal would have effect from the 2018‐19 income year and would be ongoing, beyond 1 July 2022. The offset would be applied when individuals lodge their personal income tax returns.