This proposal has two components.

Component 1 – Increased salary and wage deductions for small companies

• Component 1 of the proposal would allow companies with annual turnovers under $2 million to claim tax deductions equal to 110 per cent of their total wage and salary expenses. The value of the additional deductions would be uncapped, but would not be carried forward.

Component 2 – Increase the goods and services tax (GST) registration threshold

The proposal consists of 2 components related to funding for tax compliance programs.

Component 1 would boost funding for the Australian Taxation Office (ATO) Tax Avoidance Taskforce by an extra $200 million per year from 1 July 2022 and extend its operations on an ongoing basis (the taskforce is currently funded until 30 June 2025).

Component 2 would provide ongoing funding to extend the ATO’s shadow economy compliance programs (which are currently funded until 30 June 2023).

The proposal consists of 2 components related to funding for tax compliance programs.

Component 1 would boost funding for the Australian Taxation Office (ATO) Tax Avoidance Taskforce by an extra $200 million per year from 1 July 2022 and extend its operations on an ongoing basis (the taskforce is currently funded until 30 June 2025).

Component 2 would provide ongoing funding to extend the ATO’s shadow economy compliance programs (which are currently funded until 30 June 2023).

The proposal consists of 2 components related to funding for tax compliance programs.

Component 1 would boost funding for the Australian Taxation Office (ATO) Tax Avoidance Taskforce by an extra $200 million per year from 1 July 2022 and extend its operations on an ongoing basis (the taskforce is currently funded until 30 June 2025).

Component 2 would provide ongoing funding to extend the ATO’s shadow economy compliance programs (which are currently funded until 30 June 2023).

The proposal consists of 2 components related to funding for tax compliance programs.

Component 1 would boost funding for the Australian Taxation Office (ATO) Tax Avoidance Taskforce by an extra $200 million per year from 1 July 2022 and extend its operations on an ongoing basis (the taskforce is currently funded until 30 June 2025).

Component 2 would provide ongoing funding to extend the ATO’s shadow economy compliance programs (which are currently funded until 30 June 2023).

The proposal consists of 2 components related to funding for tax compliance programs.

Component 1 would boost funding for the Australian Taxation Office (ATO) Tax Avoidance Taskforce by an extra $200 million per year from 1 July 2022 and extend its operations on an ongoing basis (the taskforce is currently funded until 30 June 2025).

Component 2 would provide ongoing funding to extend the ATO’s shadow economy compliance programs (which are currently funded until 30 June 2023).

The proposal consists of 2 components related to funding for tax compliance programs.

Component 1 would boost funding for the Australian Taxation Office (ATO) Tax Avoidance Taskforce by an extra $200 million per year from 1 July 2022 and extend its operations on an ongoing basis (the taskforce is currently funded until 30 June 2025).

Component 2 would provide ongoing funding to extend the ATO’s shadow economy compliance programs (which are currently funded until 30 June 2023).