Budget Bill introduced

The Bill contains four of the measures announced in today’s Budget:

• Reducing the maximum cap for gifts qualifying for the donation tax credit to the lower of $100,000 or the donor's taxable income.
• An exemption from non-resident contractors' tax for the dry leasing of aircraft and parts.
• Changes to tax a shareholder on an outstanding loan six months after the lending company is removed from the Companies Register.
• Working for Families measures to make it simpler for people to understand obligations and reduce the risk of going into debt.

For details see:

• Bill as introduced
• Bill commentary
• Regulatory Impact Statements
• Disclosure statement