Double the value of corporate penalties for misuse of market power (ECR572)

Summary of proposal

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

The proposal would commence from 1 July 2022.

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Stop companies claiming tax deductions for travel to tax havens (ECR588)

Summary of proposal

The proposal would stop companies from claiming a tax deduction for travel and related expenses to and from tax havens.

  • Australian taxpayers would be required to notify the Australian Tax Office if they have residency or citizenship in a tax haven.
  • The Australian government would exclude companies based in tax havens from all government contracts.

The proposal would have effect from 1 July 2022

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Stop companies claiming tax deductions for travel to tax havens (ECR588)

Summary of proposal

The proposal would stop companies from claiming a tax deduction for travel and related expenses to and from tax havens.

  • Australian taxpayers would be required to notify the Australian Tax Office if they have residency or citizenship in a tax haven.
  • The Australian government would exclude companies based in tax havens from all government contracts.

The proposal would have effect from 1 July 2022

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Stop companies claiming tax deductions for travel to tax havens (ECR588)

Summary of proposal

The proposal would stop companies from claiming a tax deduction for travel and related expenses to and from tax havens.

  • Australian taxpayers would be required to notify the Australian Tax Office if they have residency or citizenship in a tax haven.
  • The Australian government would exclude companies based in tax havens from all government contracts.

The proposal would have effect from 1 July 2022

Read more

Stop companies claiming tax deductions for travel to tax havens (ECR588)

Summary of proposal

The proposal would stop companies from claiming a tax deduction for travel and related expenses to and from tax havens.

  • Australian taxpayers would be required to notify the Australian Tax Office if they have residency or citizenship in a tax haven.
  • The Australian government would exclude companies based in tax havens from all government contracts.

The proposal would have effect from 1 July 2022

Read more

Stop companies claiming tax deductions for travel to tax havens (ECR588)

Summary of proposal

The proposal would stop companies from claiming a tax deduction for travel and related expenses to and from tax havens.

  • Australian taxpayers would be required to notify the Australian Tax Office if they have residency or citizenship in a tax haven.
  • The Australian government would exclude companies based in tax havens from all government contracts.

The proposal would have effect from 1 July 2022

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Increasing penalty units (ECR107)

Summary of proposal

This proposal would increase the value of the penalty unit from its current amount of $222 to $275.

Penalty unit values would continue to be indexed by inflation on the current three-year indexation cycle, with the next indexation year being 2023-24.

The policy proposal has a start date of 1 July 2022.

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Increasing penalty units (ECR107)

Summary of proposal

This proposal would increase the value of the penalty unit from its current amount of $222 to $275.

Penalty unit values would continue to be indexed by inflation on the current three-year indexation cycle, with the next indexation year being 2023-24.

The policy proposal has a start date of 1 July 2022.

Read more

Increasing penalty units (ECR107)

Summary of proposal

This proposal would increase the value of the penalty unit from its current amount of $222 to $275.

Penalty unit values would continue to be indexed by inflation on the current three-year indexation cycle, with the next indexation year being 2023-24.

The policy proposal has a start date of 1 July 2022.

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Specific listing as a Deductible Gift Recipient – Wendy Whiteley Secret Garden Trust (ECR009)

Summary of proposal

The Coalition will amend the Deductible Gift Recipient (DGR) specific listings within Division 30 of the Income Tax Assessment Act 1997 to add a new specific listing for the Wendy Whiteley Secret Garden Trust as a DGR for donations made from 1 July 2022 to 30 June 2027.

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