Media releases

2004

Pacific Islands Forum Economic Ministers' Meeting

The Treasurer will attend the 8th annual Pacific Islands Forum Economic Ministers’ Meeting, to be held in Rotorua, New Zealand, on 8-10 June 2004.

National Accounts: March Quarter

Today’s National Accounts show that economic growth in Australia slowed during the March quarter, following two quarters of very strong growth.

Nomination of Australian Alternate Executive director to the IMF

The Australian Government has decided to nominate Mr Richard Murray, a senior official with the Commonwealth Treasury, for appointment as an Alternate Executive Director at the International

Appointments to the Australian Competition and Consumer Commission

Today I am announcing the appointment of two Commissioners, and the re-appointment of one Commissioner and one Associate Commissioner, to the Australian Competition and Consumer Commission (

Government Progress in Implementing the HIH Royal Commission Recommendations

On 12 September 2003, I announced the Government’s response to the recommendations of the HIH Royal Commission.

Appointment of Chairman of the Australian Securities and Investment Commission

I am pleased to announce the appointment of Mr Jeffrey Lucy AM as the Chairman of the Australian Securities and Investments Commission (ASIC) for a three-year term.

Taxation and Superannuation Compliance

The Government will provide an additional $216.4 million over four years to the Australian Taxation Office (ATO) to address a number of identified compliance risks.

All States and Territories Better Off From GST

In 2004-05, all states and territories will be better-off by a total of $1.6 billion as a result of the Australian Government’s tax reforms, with all states and territories receiving more revenue

Australian Prudential Regulation Authority - Strengthened Capabilities

Funding for the Australian Prudential Regulation Authority (APRA) is to be increased by $52.4million over four years to ensure that Australia’s prudential regulator remains adequately resourced and

Offshore Petroleum Exploration Incentive

The Treasurer and the Minister for Industry, Tourism and Resources announced tonight that the Government will introduce a taxation incentive designed to encourage petroleum exploration in Australia

Small Business Tax Simplification

The Government has tonight announced a package of taxation measures aimed at reducing compliance costs for small business and providing greater flexibility to taxpayers in managing their affairs.

Fringe Benefits Tax Concessions for Public Ambulance Services

The Government has tonight announced that it will provide grants to support public ambulance services in the transition to a capped fringe benefit tax (FBT) exemption and will ensure that they have

Increase in Fringe Benefits Tax Exemption Thresholds for Long Service Award Benefits

The Government has tonight announced that it will increase the fringe benefits tax exemption thresholds for long service award benefits.

Final Response to the Charities Definition Inquiry

The Government has tonight announced that the common law meaning of a charity will continue to apply, but the definition will be extended to include certain child care and self-help groups, and clo

Support for Organisations Affected by Eligibility Changes to Fringe Benefits Tax Concessions

The Government has tonight announced that it will provide transitional grants to assist certain state and territory and local government organisations that have lost their concessional fringe

Wine Industry Assistance

The Government has tonight announced significant changes to the current wine tax arrangements which will provide over $300million in tax relief to the Australian wine industry over the next four ye

More Help for Families

Australian families will benefit from increased family assistance worth $19.2billion over five years under the Government’s More Help for Families package.

Personal Tax Cuts

The 2004-05 Budget provides cuts to personal income tax to the value of $14.7billion over four years and will ensure that more than 80 per cent of taxpayers will remain in or below the 30per cent t

Boosting Retirement Savings

The Government is tonight announcing a package of measures designed to provide Australians with greater incentives to save for their retirement.

Government Reaffirms the Existing Corporate Taxation Treatment of Options Granted to Employees

On 19 February 2004 the International Accounting Standards Board (IASB) issued International Financial Reporting Standard 2 Share-based Payment.