From hlb.com.au: The 2025 Federal Budget presented on March 25 includes a reduction in the personal income tax rate for the lowest bracket, set to decrease from 16% to 15% in July 2026 and to 14% in July 2027.

Additional highlights include an increase in the Medicare levy low-income threshold and a $150 energy rebate, although more substantial reforms in the energy sector were anticipated.

The budget also features continued funding for tax compliance activities, reveals proposals impacting tax deductibility for interest charges, and addresses existing measures related to superannuation and small business asset write-offs.