- The company tax rate for eligible small businesses will be reduced by 1.5%;
- Unincorporated small businesses will receive a 5% tax discount;
- Small businesses with less than $2m annual turnover will be able to fully deduct capital expenses of up to $20,000 per annum;
- Farmers’ capital expenditure on fencing and water facilities will be fully deductible.
- Many lower income young families will benefit from greater childcare subsidies;
- Families choosing not to vaccinate their children will miss out on childcare subsidies and family benefits;
- Pension assets test changes will benefit lower net worth retirees, however, higher net worth retirees may receive reduced entitlements;
- It will no longer be possible to claim both the full Government and employer provided parental leave payments.
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