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Tax boost announced for 1.2 million people

<p>Low-income earners will receive a tax boost with the Medicare levy threshold set to rise. </p> <p>The income threshold at which taxpayers will have to pay a two per cent Medicare levy will increase by 7.1 per cent, in line with inflation. </p> <p>Currently single people who earn below $24,276 do not have to pay the levy. Under the changes, the two per cent levy only has to be paid by anyone earning over <span style="font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;">$26,000</span></p> <p>The <span style="font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;">Medicare levy </span><span style="font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;">threshold for seniors and pensioners will increase to $41,089, up from the initial benchmark of $38,365. </span></p> <p>For families, this threshold has increased to $43,486 up from the previous $40,939. </p> <p>Treasurer Jim Chalmers said that the increase was part of the broader measures taken to relieve the increase in cost-of-living. </p> <p>“This will ensure people on lower incomes continue to pay less or are exempt from the Medicare levy,”  he said on Tuesday. </p> <p>“It means 1.2 million Australians get to keep a bit more of what they earn.”</p> <p>The boost in the Medicare levy threshold was announced alongside changes to income tax cuts, with those earning under $150,000 set to receive greater benefits. </p> <p>“This is about doing what we responsibly can to ease some of the pressure being felt by Australians right around the country, but especially for people on lower incomes, young people, seniors and women,” Chalmers said.</p> <p>This comes just days after Medicare celebrated it's 40th anniversary, with an exhibition launched at Parliament House.</p> <p><em>Image: Getty</em></p>

Money & Banking

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Inside Pete Evan’s $1.2 million farmhouse

<p><span><em>My Kitchen Rules </em>judge Pete Evans has given fans a glimpse into his $1.2 million farm in northern New South Wales.</span></p> <p><span>The 10-hectare farm shared with wife Nicola Robinson, includes two residences, three dams, a games room and a meditation area.</span></p> <p><span>Pete purchased the property at Round Mountain for $1.2 million in 2015, previously living in a home in Sydney's eastern suburbs.</span></p> <p><span>The first residence on the land contains three bedrooms, two living rooms and a spacious kitchen.</span></p> <p><span>The second residence also contains three bedrooms as well as a barn for the family’s horses.</span></p> <p><span>A shed has also been converted into a granny flat that contains two bedrooms.</span></p> <p><span>The farm is very special to Pete and Nicola as the pair tied the knot at this location in 2016.</span></p> <p><span>At the small wedding celebration, Nicola wore a bohemian-style frock and accessorised with a flower crown.</span></p> <p><span>Their strict diet also meant that guests dined on local produce and a Paleo wedding cake on the big day.</span></p> <p><span>Scroll through the gallery above to get a sneak peek into Pete Evan’s farmhouse.</span></p>

Accommodation

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Julie Bishop under fire over $1.2 million expenses bill

<p>The Liberal Party is in damage control after Labor questioned Foreign Minister Julie Bishop’s $1.2 million expenses bill, which included attending the premiere of <em>Thor: Ragnarok</em> and spending a day at the polo.</p> <p>However, Attorney-General George Brandis has hit back at claims of overspending, describing Bishop as “one of the most experienced and most respected ministers in the Australian government”. </p> <p>“[She] is well aware of the standards and is always observant of them," he added.</p> <p>At the film screening, Bishop reportedly said, “It does add a great deal to the Australian economy and it will raise our profile overseas as a sophisticated, creative nation.”</p> <p>Senator Brandis claims he was not aware of the date nor nature of the event. </p> <p>“It may be the case that she attended this particular event in the role she assumed as Foreign Minister in advocating Australia’s interests including ... the promotion, particularly in the United States, of the Australian cinema and film industry,” he said.</p> <p>“I know her advocating of the Australian film industry was greatly appreciated by the industry and very effective.”</p> <p>Tell us in the comments below, do you think it’s fair for government employees to charge such events to the public purse? Or should there be tighter limits on how much they spend?</p>

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