The Minister for Climate Change, Industry and Innovation, Greg Combet, has announced that, due to the lower carbon price that is now expected to apply after 1 July 2015 [when Australia’s price would be determined by international markets], “there will be no additional anticipated increase in costs to households in 2015-16 with a lower carbon price forecast, [and] the Budget will [therefore] defer an anticipated further round of additional related tax cuts”. The Government will [indefinitely???] “defer” the increase in the tax-free threshold from id=”mce_marker”8,200 to id=”mce_marker”9,400 that was to have applied from 1 July 2015.
Source: Transcript of Minister’s media conference, Sydney, 8 May 2013
[LTN 87, 9/5/13]