Thursday, 1 December 2016
Income Tax Rates Amendment (Working Holiday Maker Reform) Bill 2016 (No. 2); In Committee
I indicated that in my contribution earlier. Over the forward estimates the net effect of this package is a $560 million improvement to the budget bottom line. Not only is it a $560 million improvement in the budget bottom line that is legislated; also, as a matter of public record, we have made a one-off contribution of $100 million to the National Landcare Program, which is a one-off contribution as opposed to a recurrent improvement which has been locked in. The net effect of this package is a $460 million improvement. You have to remember that this also locks in the $260 million effect from the increase in the passenger movement charge, which only comes into effect once this legislation passes.