What changed on 1 Jan 2019
Aspen Corporate • 22 April 2019
What changed on 1 Jan 2019
- Tampon tax (GST on sanitary products) scrapped
- Voluntary crackdown begins on credit card providers to protect consumers who cannot pay-off their credit card debt or who cannot afford an increased limit
- Higher Education Loan Program:
- New lifetime caps prevent students repeating courses or continually enrolling in new courses.
- New loan limits: Increase in fee assistance for students studying medicine, dentistry and veterinary science courses with increases in their loan limit from an estimated $130,552 in 2019 to a new limit of $150,000. $104,440 for all other students.
Accessing superannuation funds for medical treatment or financial hardship
The Federal Government had a consultation process on supermarket unit pricing. This is not only a consumer issue, but it could have commercial impacts for suppliers
Leaving debts outstanding with the ATO is now more expensive for many taxpayers, as GIC and SIC imposed by the ATO is no longer tax-deductible from 1 July 2025.
A decision by the Administrative Review Tribunal highlights the importance of documentation and evidence when it comes to tax planning and the possible consequences
The Reserve Bank of Australia (RBA) delivered a 25 basis point rate cut, lowering the cash rate from 3.85% to 3.60%, the third reduction this year.
On 1 July 2025 the superannuation guarantee rate increased to 12% which is the final stage of a series of previously legislated increases.
