Media releases

2002

Enhanced ATO Resources

The Government will provide additional funding to the Australian Taxation Office (ATO) to improve service levels and enhance the integrity of tax administration.

Maintaining the Momentum of Business Tax Reform

The Minister for Revenue and Assistant Treasurer, Senator Helen Coonan, today announced the Government's programme for delivering the next stage of business tax reform measures.

Imposition of Excise on Higher of Labelled or Actual Alcoholic Strength

The Minister for Revenue and Assistant Treasurer, Senator Coonan, today announced that through the 2002-03 Budget the Government will amend the Excise Act 1901 to impose excise du

A Better Superannuation System - Superannuation for Life: Child Accounts

The Minister for Revenue and Assistant Treasurer, Senator Coonan, today announced that through the 2002-03 Budget the Government has given effect to its superannuation election commitment to

A Better Superannuation System - Superannuation from the Baby Bonus

The Minister for Revenue and Assistant Treasurer, Senator Coonan, today announced that through the 2002-03 Budget the Government has given effect to its superannuation election commitment to

A Better Superannuation System - higher fully deductible amount for superannuation contributions by self-employed persons

The Government will increase the fully deductible amount for superannuation contributions made by self-employed and other eligible persons from $3,000 to $5,000, commencing from 1 July 2002.

A Better Superannuation System - splitting superannuation contributions between couples

The Minister for Revenue and Assistant Treasurer, Senator Coonan, today announced that through the 2002-03 Budget the Government has given effect to its superannuation election commitment to

A Better Superannuation System - reducing the Superannuation Surcharge rate

The Government will amend the superannuation surcharge legislation so as to reduce the superannuation contributions and termination payments surcharge rates by one tenth of their current leve

A Better Superannuation System - reduction of the tax rate on excessive Eligible Termination Payments

The Government will modify the tax treatment of Eligible Termination Payments (ETPs) from superannuation funds to limit the effective overall rate of taxation that applies to the excessive co

A Better Superannuation System - Quarterly Superannuation Guarantee Contributions

The Minister for Revenue and Assistant Treasurer, Senator Coonan, today announced that through the 2002-03 Budget the Government has given effect to its superannuation election commitment to

A Better Superannuation System - Continuing Superannuation contributions to age 75

The Minister for Revenue and Assistant Treasurer, Senator Coonan, today announced that through the 2002-03 Budget the Government has given effect to its superannuation election commitment to

Life Insurance Policyholders

The Government has decided not to proceed with the recommendations made by the Review of Business Taxation regarding the taxation of ordinary life insurance investment policies because of con

Increase in Medicare Levy Thresholds

From the 2001-02 income year, the Medicare levy low income thresholds and Medicare levy thresholds for pensioners less than age pension age will be increased.

Government places statutory effective life caps on aeroplanes, helicopters, gas transmission and distribution assets, oil and gas production assets and assets used to manufacture condensate, crude oil, domestic gas, liquid natural gas or liquid petroleum

The Minister for Revenue and Assistant Treasurer, Senator Coonan, announced today that the Government will introduce legislation to ensure depreciation deductions for aeroplanes, helicopters,

Increase in the medical expenses offset threshold

From the 2002-03 income year, the threshold above which the medical expenses offset becomes payable will be increased from $1,250 to $1,500. The threshold was last increased in 1997.

A Better Superannuation System - Introduction of Government Superannuation Co-contribution for Low Income Earners

The Government will contribute up to $1,000 a year towards the superannuation savings of eligible low income earners where they make personal undeducted contributions to superannuation after

Choice of Superannuation and Portability

The Minister for Revenue and Assistant Treasurer, Senator Coonan, today announced that through the Budget the Government has reaffirmed its election commitments to choice and portability in s

Deductibility of Gifts to the Aboriginal Education Council (NSW) Incorporated

The Minister for Revenue and Assistant Treasurer, Senator Helen Coonan, has announced that from today, gifts to the value of $2 or more made to the Aboriginal Education Council (NSW) Incorpor

Tax Relief for Demergers

Senator Helen Coonan, Minister for Revenue and Assistant Treasurer, today announced details of the Government's policy on the provision of tax relief for demergers.

Joint Statement - Senator Helen Coonan and Dr Kerryn Phelps

Following a meeting in Sydney today between Assistant Treasurer, Senator Helen Coonan, AMA President, Dr Kerryn Phelps, senior advisers to the Prime Minister, and representative of United Med