Winners
Well, everyone who earns more than $18,200. Everyone gets a tax cut – up to $268 in 2026-27 and another one in 2027-28. It’s a smart tax cut – mostly benefitting those earning less than $45,000.
People who go to the doctor/use the PBS – as was previously announced – cheaper PBS medicine, cheaper GP visits (hopefully) and the energy rebate is extended for another 6 months (tune back in 6 months to see if it gets extended again).
Beer drinkers – the Government will pause indexation on draught beer excise and excise equivalent customs duty rates for a two‑year period, from August 2025 – also previously announced.
Gas companies who are projected to pay less PRRT over the next 4 years – $1.95bn than $1.8bn then $1.65bn then $1.45bn. As a result, beer drinkers – even with the pause of excise indexation will still pay $4.8bn more than gas companies do on PRRT over the next 4 years.
Wealthy people who live using the superannuation system to avoid paying tax – no changes to the super tax concessions.
Wealthy people who like using the tax system to speculate in the housing market. No changes to that nor negative gearing.