The Australian independent Parliamentary Budget Office (PBO) has released its estimates of the budget impacts of the incoming Australian Labor Party (ALP) Government’s proposed tax policy measures. This 2022 Election Commitments Report is prepared based on the election commitments of the new government. The report is not formal government policy, much less legislation. However, the report is intended to ‘hold parties to account’ regarding their election commitments.
The takeaway: The Labour government may seek to enact these measures as a priority given they are broadly consistent with the ALP’s election commitments released in April 2022. The report reveals additional details of certain policy measures that could impact inbound investment into Australia.