A list of govt reforms to be rolled out from today

1 July 2009

Key federal government reforms coming into effect from July 1, 2009:

• 30 per cent income tax threshold increased to $35,001.
• 40 per cent tax rate reduced to 38 per cent.
• Maximum low-income offset raised to $1,350.
• Tax exemption threshold on employment share schemes boosted to $150,000.
• Commonwealth superannuation co-contributions downsized to a dollar for each dollar up to $1,000.
• Concessional superannuation caps halved to $25,000 for people under 50 and to $50,000 for those older than 50.
• New industrial body Fair Work Australia established.
• Roll-out of a raft of new industrial relations laws.
• Axing of Community Development Employment Projects in regional areas.
• 40 per cent export subsidy for quarantine inspections abolished.
• A range of new drugs to be listed on the Pharmaceutical Benefits Scheme.

Original article: CCH News - http://www.cch.com.au/