On 28 March 2025, the Prime Minister of Australia, The Hon Anthony Albanese MP, announced that the 2025 Federal Election will be held on 3 May 2025. Some political parties and independents have made various announcements on tax and superannuation policies in the past few months. CA ANZ is tracking the tax and superannuation policies announced – check out what we’ve seen so far. 

Australian Labor Party

Tax

• Introduce a $1,000 standard deduction for work related expenses for taxpayers with labour income
• Reduce HECS-HELP debts by 20 per cent 
• The government will raise the excise remission cap for eligible alcohol manufacturers from $350,000 to $400,000 annually, benefiting both brewers and distillers. A similar increase will apply to the Wine Equalisation Tax (WET) producer rebate, also rising to $400,000
• Extending the $20,000 instant asset write-off for 12 months until 30 June 2026
• Prevent perpetrators from using the tax and corporate systems to create debts as a form of coercive control and make perpetrators accountable for these debts if they do. Also look at making perpetrators liable for social security debts incurred by a victim-survivor due to coercion or financial abuse (part of Building Australia’s Future: Labor’s Commitment to Women package)
• Deliver a tax cut to all Australian women who pay tax so they can keep more of what they earn (part of Building Australia’s Future: Labor’s Commitment to Women package).

2025-26 Budget announcements outstanding:

• Restrict foreign ownership of housing - Banning foreign persons (including temporary residents and foreign owned companies) from purchasing established dwellings for two years from 1 April 2025, unless an exception applies and funding the Australian Taxation Office (ATO) to enforce the ban. Also, fund the ATO and Treasury over 4 years to implement an audit program and enhance the compliance approach to target land banking by foreign investors.
• Extend energy bill rebate to individuals and small businesses until the end of 2025 by providing 2 further instalments of $75 for households and small businesses
• Clarify genuine, foreign based widely held investors, such as pension funds, can still access concessional withholding tax rates on eligible distributions to members through managed investment trusts (MITs)
• Supporting hospitality sector and alcohol producers:
  • pause indexation on draught beer excise and excise equivalent customs duty rates for a two-year period, from August 2025
  • increase support available under the existing Excise remission scheme for manufacturers of alcoholic beverages (the Remission scheme) and Wine Equalisation (announced before the Budget)
• Australian Taxation Office funding of $999 million over 4 years to extend and expand tax compliance activities
• Enhancing Tax Practitioner Regulation and Compliance:
  • Government will strengthen the sanctions available to the Tax Practitioners Board (TPB), modernise the registration framework for tax practitioners and provide funding to the TPB to undertake additional compliance targeting high-risk tax practitioners over 4years from 1 July 2025. 
  • It will also support the sustainability of the tax profession by increasing the ease of re-entry for tax and business activity statement agents who take career breaks.

Source: 2025-26 Budget Papers

Superannuation 

• Increase the tax rate to 30% for superannuation balances $3 million and over (Division 296) 
• Look at how perpetrators of domestic and family violence can be stopped from receiving their victim’s superannuation after death (part of Building Australia’s Future: Labor’s Commitment to Women package).

Coalition

Tax

• The “Entrepreneurship Accelerator” -  a tax offset available to newly incorporated small businesses for the first three years of their operation 
• The "Tech Booster” - an additional tax deduction of $2,000 where a small business spends $4,000 or more on certain technology for small business entities (turnover under $10m)
• First Home Buyers Mortgage Deductibility - first home buyers earning up to $175,000, or joint applicants earning up to $250,000, who purchase a newly built home as their principal place of residence will be able to claim a deduction on interest payments on the first $650,000 of the mortgage to purchase to home for the first five years of a mortgage
• Cost of Living Tax Offset - available to Australian tax residents earning an annual taxable income of up to $144,000, with the full offset of $1,200 being available to those earning between $48,000 and $104,000
• A capped tax deduction of $20,000 for business-related meal and entertainment expenses for small businesses with a turnover of up to $10 million 
• Extending the value of assets eligible for instant write-off to $30,000 (and make it ongoing), for firms with annual turnover up to $10 million (page 11 of The priorities of a Coalition Government)
• Repeal of the cost of living relief provisions that reduce the lowest marginal tax rate by 1% each year between 1 July 2026 to 30 June 2028
• Halve the fuel excise for 12 months
• Repeal production tax credits for green hydrogen
• Repeal Tax Agent Services (Code of Professional Conduct) Determination 2024
• Freeze indexation on draught beer excise for 2 years to support the hospitality sector.
• Strengthen Commonwealth taxation, welfare and superannuation systems where practicable to eradicate financial abuse, coercive control and unfair outcomes following family and domestic violence. As recommended in the recent Report of the Government’s Rapid Review of Prevention Approaches, the Coalition will seek to implement changes to stop perpetrators of family and domestic violence from “weaponising government systems” (Our plan to address family and domestic violence).

Superannuation

• Allow Australians to access up to $50,000 from their super to buy their first home, the money withdrawn will need to be returned when the house is sold 
• Allow eligible parents to either receive superannuation contributions on government funded paid parental leave (PPL) or an additional two weeks of funded PPL or a one-off payment equal to the total value of the superannuation entitlement for PPL .

Source: The Priorities of a Dutton Coalition Government and Opposition Budget in Reply

Greens

Tax

• Big Corporations Tax (Excessive Profits) – 40% tax on excessive profits on turnover after the first $100m
• Big Corporations Tax (Gas and Oil) - revamped tax on offshore oil and gas will close the loopholes in the Petroleum Resource Rent Tax (PRRT)
• Big Corporations Tax (Coal and Mining) - 40% tax on the super profits of mining projects
• Introduce a 10% tax on the net wealth of Australia’s 150 billionaires
• Tackling multinational tax avoidance
• Big Tech Tax - revenue in excess of $20 million earned from digital services in Australia will be taxed at a rate of 3%. Digital services include advertising, online marketplace services, user data, social media and cloud services
• Wipe all student debt.
• Introduce Live Performance Tax Offsets
• Grandfather negative gearing and the 50% CGT discount to one investment property. People will be able to keep existing negative gearing and CGT discount benefits for one investment property they already own
• Scrap the 50% capital gains tax discount for all assets

Source: Robin Hood tax plan and also Our plan to bring down the cost of living

One Nation

Tax

• Multinational taxation - Oppose any increase in the GST and maintain opposition to the reintroduction of death duties and pursue a tax regime that ensures multinational businesses pay their fair share of tax while operating within Australia
• Scrap excise tax on beer and spirits served in pubs
• GST moratorium on building materials for new homes up to a value of $1m to reduce the cost of new housing and help prevent more construction businesses from closing
• Tax savings for families – 28 Jan 2025 – couples with children can split their taxable income and jointly file tax returns
• Increase the tax-free threshold to $35,000 for self-funded retirees over 67 who receive no government payments
• Exempt insurance from GST
• Halve the fuel excise and road user charge for the next 12 months, with an option to extend this period.

Source: One Nation website

Independents

Allegra Spender MP

• Tax reform – Tax Green Paper which sets out the challenges that tax reform should address

Dr Sophie Scamps MP

• Introduce a tax-free threshold of $20,000 for small businesses with an annual turnover of under $10 million

Zali Steggall MP

• Increase the instant asset write-off threshold to $50,000 and make it permanent 

Allegra Spender, Dr Helen Haines MP, Kate Chaney MP, Kylea Tink MP, Dr Monique Ryan MP, Dr Sophie Scamps MP, Zali Steggall MP and Zoe Daniel MP

• Protecting working Australians from “Bracket Creep” - Commit to indexing income tax brackets to reduce or remove the impact of bracket creep.