Budget Speech

Salaries Tax and Tax under Personal Assessment

127.      I propose a one-off tax reduction of 50 per cent of salaries tax and tax under personal assessment for 2008-09, subject to a ceiling of $6,000. The reduction will be reflected in the taxpayer's final tax payable for 2008-09. This proposal will cost the Government about $4.1 billion and benefit all 1.4 million taxpayers.