Date posted: 5/04/2019 3 min read

Liberal Party Policies for the 2019 Federal Election

Know what could be in store for your clients.

In brief

  • Liberal Party proposed reforms for individuals and business
  • Your one stop shop for identifying the policies which may impact your clients and your business

The Liberal Party has made a string of announcements this year in the lead up to and including the Budget. The announcements mainly relate to easing tax on low-middle income earners and making life easier for small business. One of the Liberal Party announcements has already become law – the increase in the instant asset write off from budget night to $30,000 for those business with a turnover of less than $50 million.

Measures impacting individuals

Increasing the low and middle income tax offset

Increasing the top threshold of the 19 per cent tax bracket

Reducing the 32.5 per cent tax rate to 30 per cent

Increase in the Medicare levy threshold

Small business

Increasing the instant asset write-off threshold to $30,000 and expanding access to medium-sized businesses with an annual turnover of less than $50 million

Integrity measures

Extending funding for the ATO's Tax Avoidance Taskforce until 30 June 2023

Strengthening ABNS

Funds for ATO to target on time payment of tax and super liabilities

Funds for ATO to share data with Department of Veterans Affairs

Superannuation

Australians aged 65 and 66 will be able to make voluntary superannuation contributions, both concessional and non-concessional, without meeting the Work Test

Increase the age limit for spouse contributions from 69 to 74 years

Extend access to the bring-forward arrangements

Strategic Tax Planning Day

Join us at our upcoming Strategic Tax Planning Day, to take a deep-dive look into the tax implications that could arise from the Federal Election and hear CA ANZ's senior leader's official response to the budget.

Find out more

Australian Labor Party Policies for 2019 Federal Election

Labor Party's proposed reforms for individuals and business.

Find out more

2019 Australian Federal Budget

Taxes will be a key battleground in the federal election with the Budget proposing deep cuts to personal income tax.

Find out more

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