- 76
Areas of No Change
Tax Relief for Housing-Related Expenditure
"There would be serious difficulties in defining first-time home buyers without creating the potential for widespread abuse." (Para 57)
Profits Tax
"A recent survey of senior executives in 16 industries found that 93 per cent of them are happy with our current corporate profits tax arrangements." (Para 58)
Tax Concessions
Salaries Tax
"I am proposing a wide range of concessions on personal taxation." (Para 73)
"I propose to introduce a new allowance of $24,500 for a taxpayer maintaining a brother or sister." (Para 74)
"I propose to introduce a specific deduction to allow taxpayers to claim as a deductible expense fees for training courses up to a maximum of $12,000 a year.' (Para 74)
Stamp Duty on Property Transactions
"I propose to reduce the impact of Stamp Duty in a manner which will directly benefit buyers of lower and medium-value flats with property values of up to $3.5 million." (Para 78)
Refurbishment allowance for Hotels
"I propose the introduction of a specific allowance to enable hotels to deduct refurbishment expenditure over a five year period" (Para 82)
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