Details

  • Type: Publication series
  • Date: 7/3/2014

Australia – Legislation Enacted with New Levy Impacting Tax Liabilities 

Australia’s so-called “temporary budget repair levy” of 2 percent, raising the tax burden for certain individuals, has been enacted. On June 25, 2014, the package of 15 Temporary Budget Repair Levy bills received Royal Assent. The additional income tax rate on annual taxable income exceeding A$180,000, will apply from July 1, 2014 to June 30, 2017. The temporary budget repair levy will also be reflected in the Fringe Benefits Tax rate.

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Australia – Legislation Enacted with New Levy Impacting Tax Liabilities
 

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