Entrepreneurs tax offset abolished

The entrepreneurs tax offset has been abolished from the 2012-13 income year.

This change was recommended by the Australia's Future Tax System Review, and continues the process of tax reform started in May 2011 with the release of the government's Stronger, Fairer, Simpler package of reforms.

This change is law.

Media release

Media release No. 48 Making Australia's Tax System Simpler and Fairer was released on 10 May 2011 by the Hon Wayne Swan MP.

Legislation and supporting material

• Tax Laws Amendment (Stronger, Fairer, Simpler and Other Measures) Act 2012
• Explanatory Memorandum

More information For more information, refer to the 2011-12 Budget - Budget Paper No. 2 - Part 1 Revenue measures.