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Cnr Dollery & Old Cleveland Rd
Capalaba, Qld 4157
Telephone 07 3245 9966
11 Montague St
Stones Corner, Qld 4120
Telephone 07 3847 9499
Budget 2018/2019 Highlights
9 May 2018

Personal income tax

  •  Income tax cuts through a combination of tax rate threshold changes and tax offsets.
  • Tax deductions denied for expenses associated with holding vacant land.
  • Minor beneficiaries will be taxed under general minor tax rates, not adult tax rates, on income from certain assets in a testamentary trust.

Business owners

  • Cash payments to businesses will be restricted to $10,000 or less.


  •  Self-managed superannuation fund (SMSF) member limit increase.
  • SMSF three-yearly audit cycle.
  • Work test exemption for those with balances of less than $300,000.
  • Individuals with multiple employers able to opt out of Superannuation Guarantee.
  • Opt-in basis for default insurance inside superannuation.
  • Passive fees, exit fees and inactive super.
  • Requiring superannuation fund trustees to offer Comprehensive Income Products for Retirement (CIPRs).

Social Security

  •  Expansion of the Pension Loan Scheme.
  • Extension of the Pension Work Bonus.
  • New means testing rules for lifetime retirement income products.

Aged care

  •  Improving access to residential and home care.

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