The Commonwealth Treasury


Tax Expenditures Statement

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4

Changes from 2001 TES

4.1 Introduction

This chapter provides an outline of the major changes to the list or nature of tax expenditures since the 2001 Tax Expenditures Statement.

4.2 New tax expenditures

Tax expenditures arising from measures that have been announced or legislated since the 2001 Tax Expenditures Statement up to the date of publication of the 2002-03 Mid-Year Economic and Fiscal Outlook (MYEFO) are as follows (tax expenditure reference codes, used in chapter 5 and Appendix A, are reported in parentheses):

Measures that were not previously reported, but which have been recently identified as tax expenditures, are as follows (tax expenditure reference codes are reported in parentheses):

4.3 Modified tax expenditures

Modified tax expenditures are those that have changed materially since the 2001 Tax Expenditures Statement. The nature of a modification may include a change to the benchmark, the decision to remove a tax expenditure in a certain year, an amalgamation of tax expenditures, or the inclusion of a new part. Items that have been modified as a result of a change to the applicable tax rate are not listed.

The following tax expenditures have been modified since they were last reported in the 2001 Tax Expenditures Statement (the respective tax expenditure reference codes from this Statement and the 2001 Tax Expenditures Statement are reported in parentheses):

4.4 Deleted tax expenditures

Deleted tax expenditures are tax expenditures that are not reported in this Statement but were reported in the 2001 Tax Expenditures Statement. They do not include tax expenditures that have been abolished but are still reported in Table 5.1 because they have an impact over the reported time horizon, which extends back to 1998-99. (Instead, tax expenditures that have been abolished are generally reported as being modified.)

Tax expenditures that have been deleted since the 2001 Tax Expenditures Statement are as follows (parentheses refer to the tax expenditure reference codes from the 2001 Tax Expenditures Statement):