TAXES
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* The 32.5 per cent income tax rate cuts in at $90,000, up from $87,000.
* A new low and middle-income tax offset worth up to $530, but not paid tax returns are processed after the 2018/19 financial year.
* Lower corporate tax rate of 27.5 per cent extended to businesses with a turnover of less than $50 million. The rate will reduce to 25 per cent in 2026/27. Larger companies still pay 30 per cent.
* GST applied to foreign purchases below $1000 for the first time.
* Purchasers of newly-constructed residential properties or new subdivisions must remit GST directly to tax office as part of settlement.
CHILD CARE
* Existing subsidies combined into a single means- and activity-tested payment where both parents must be working, studying, volunteering or searching for work at least eight hours a fortnight to be eligible for the subsidies.
* Households with a total annual income under $186,958 will no longer face a cap on the amount of rebate paid by to them each year.
* For those earning more than this, the annual cap will lift from $7500 to just over $10,000 per child.
WORKPLACE
* New hourly minimum wage of $18.93, up from $18.29.
* Sunday and public holiday penalty rates for workers in fast-food, retail, hospitality and pharmacy will be cut by 10 to 15 per cent.
WELFARE
* A fortnightly withholding amount of $28.28 from the Family Tax B Benefit for those parents who don't immunise their school-age children.
COMMUNICATIONS
* Telco consumers can expect a better complaints-handling experience under a new industry standard and record-keeping rules by the Australian Communications and Media Authority.
* The new rules oblige telcos to have a written complaints-handling process that meets minimum standards; acknowledge all consumer complaints within two working days; use their best efforts to resolve complaints on first contact, and otherwise, resolve complaints within 15 working days.
