Proposed changes to tax laws, updates on bills, and policy announcements
Tax Policy
Public views are sought on a proposed temporary remedy to an error in recent FamilyBoost tax credit legislation. The error affects people who receive schedular payments and incorrectly includes this income in the FamilyBoost income calculations before allowing for claimable business expenses. This would result in a person receiving less, or no FamilyBoost payment.
The draft Commissioner’s 6E Notice, which aims to provide a temporary remedy to the error, is provided for public feedback. A permanent solution will be sought in an upcoming taxation bill. Submissions are due by 25 September 2024.
Please address submissions to [email protected] with 'Exemption to FamilyBoost income rules' in the subject line.