Explanatory Memorandum(Circulated by authority of the Treasurer, the Hon. P. J. Keating, M.P.)
The changes to the personal tax rate scale for residents is estimated to cost $1,230 million in 1990-91 and $2,585 million in 1991-92.
The changes to the personal tax rate scale for non-residents is estimated to cost less than $0.5 million in a full year.
The gain to revenue from the reduction of the level of the rebate for net medical expenses is estimated at $7 million in 1991-92 and $15 million in a full year.
The estimated gain to revenue from the extension of the provisional tax system to certain salary or wages is $370 million in 1990-91.
The increase in the low income thresholds is estimated to cost $35 million in 1990-91 and $80 million in 1991-92.