Government policy changes from July 1

Colin Brinsden
Penalty rates for employees working on Sundays will change from July 1

WHAT CHANGES FROM JULY 1?

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BUSINESS

Tax cuts - Small and medium-sized business with an annual turnover of less than $50 million will have the corporate tax rate cut to 26 per cent from 27.5 per cent. The tax rate will reduce further to 25 per cent from July 1, 2021, five years earlier than originally planned.

Tax discount - Unincorporated business with a turnover of less than $5 million will see the small business tax discount increased to 13 per cent from eight per cent. It will rise further to 16 per cent from July 1, 2021.

Phoenixing - Australian Taxation Office will get $58.9 million and the Australian Securities and Investments Commission $4.7 million to crack down on so-called illegal phoenixing - where dodgy executives strip down their businesses and transfer assets to another company to avoid paying outstanding liabilities.

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INDUSTRIAL RELATIONS

Penalty rates - Sunday retailer rates reduce to 150 per cent from 165 per cent in the final round of the phased cuts after the 2017 workplace tribunal ruling. (Fair Work Commission decision)

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SKILLS

Revitalising TAFE campuses - $50 million over two years to establish a TAFE revitalising grants program to improve vocational education infrastructure.

Transition to work - $12.5 million over four years to extend the time a participant can spend in the transition to work program from 12 months to 18 months to assist disadvantaged young Australians.

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SUPERANNUATION

Complaints tribunal - $2.3 million to the Australian Securities and Investments Commission for the Superannuation Complaints Tribunal to resolve outstanding complaints by December 31, 2020 when it ceases to operate. This follows the delayed commencement of the Australian Financial Complaints Authority.

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MENTAL HEALTH

ABS survey - The Australian Bureau of Statistics will get $89.5 million to undertake an intergenerational health and mental health survey to better understand people's further health needs.

Perinantal depression - A total $36 million is being provided to undertake a national perinatal mental health check for new and expecting parents.

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HEALTH

National Health Agreement - $103.2 billion over five years to the states and territories for public hospital services after the expiry of the current agreement on June 30, 2020. $50 million also provided in 2020/21 for health innovation fund to support trials in innovative and better use of health data.

Prostate cancer - $17.4 million over three years to support 34 new prostate cancer nurses and continued funding for existing nurses, resulting a total 62 nurses providing specialist support for patients, their families and carers.

Medicare - $448.5 million over three years for new chronic disease care funding.

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ENERGY

Energy and emissions reductions - $10.9 million to improve energy efficiency and reduce energy bills for residential and commercial buildings. Funding will be directed to activities that improve energy efficiency standards, encourage building owners to replace inefficient heating, ventilation and air conditioning systems.

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AGED

Home support - $5.9 million over two years to extend Commonwealth Home Support Program funding arrangements. This contributes to essential home support services, such as Meals on Wheels, personal care, nursing, domestic assistance, home maintenance and community transport

Digital literacy - $9.3 million to extend Be Connected Program for one year. The program increases older Australians digital literacy, confidence and online safety skills enabling them to access social and economic benefits of online participation.

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AGRICULTURE

Harvest labour services - $24.1 million over four years to encourage more Australian jobseekers to take up seasonal harvest jobs.

ACCC agriculture unit - $2.7 million to the Australian Competition and Consumer Commission to continue its agriculture unit which includes a dairy specialist to raise industry awareness about the dairy mandatory code of conduct.