This proposal would increase the major bank levy rate from its present level of 0.015% per quarter to 0.05% per quarter.

The proposal would have effect from 1 July 2022.

The proposal has 5 components that would modify the Australian personal income tax system.

• Components 1 and 2 would not proceed with Stage 3 of the Personal income tax plan in 2024-25, and would introduce a new tax bracket for those earning more than $1 million from 1 July 2022. 

The personal income tax schedule would be as follows:

The proposal has 5 components that would modify the Australian personal income tax system.

• Components 1 and 2 would not proceed with Stage 3 of the Personal income tax plan in 2024-25, and would introduce a new tax bracket for those earning more than $1 million from 1 July 2022. 

The personal income tax schedule would be as follows:

The proposal has 5 components that would modify the Australian personal income tax system.

• Components 1 and 2 would not proceed with Stage 3 of the Personal income tax plan in 2024-25, and would introduce a new tax bracket for those earning more than $1 million from 1 July 2022. 

The personal income tax schedule would be as follows:

The proposal would double the value of penalties corporations face for the misuse of market power.

The proposal would commence from 1 July 2022.

The proposal would double the value of penalties corporations face for the misuse of market power.

The proposal would commence from 1 July 2022.

The proposal would double the value of penalties corporations face for the misuse of market power.

The proposal would commence from 1 July 2022.

The proposal would double the value of penalties corporations face for the misuse of market power.

The proposal would commence from 1 July 2022.

The proposal would double the value of penalties corporations face for the misuse of market power.

The proposal would commence from 1 July 2022.

The proposal would double the value of penalties corporations face for the misuse of market power.

The proposal would commence from 1 July 2022.