Temporary budget repair levy

As part of the 2014-15 Federal budget the Government announced that it will impose a temporary Budget Repair levy of 2% on that part of a person's taxable income which exceeds $180,000.

The levy will apply from 1 July 2014 and apply to the 2014-15, 2015-16 and 2016-17 financial years. There will be consequential changes for legislation that reference the top marginal tax rate of 45%.

Legislation and supporting material


Media release

For more information about the Temporary Budget Repair levy refer to Treasurer’s Joint media release by the Treasurer and Minister for Finance dated 13 May 2014External Link

More information

For more information, refer to Budget 2014-15 Part 2 pg 15External Link

    Last modified: 21 Jul 2014QC 40100