Government reaches deal with PUP, Ricky Muir to repeal mining tax
Finance minister Mathias Cormann has announced the government has signed a deal with the Palmer United Party and Senator Ricky Muir on the repeal of the mining tax.
The amendments will ensure that the low-income super contribution will remain until June 30, 2017 and the income-support bonus will stay until December 31, 2016.
The school-kids bonus will be means tested so that only families earning up to $100,000 will qualify and it will remain until December 31, 2016.
Compulsory super will not increase from its current level until July 1, 2021 when it will rise to 10 per cent.
It will then increase annually until it reaches 12 per cent.
Senator Cormann said the amendments would have a neutral impact on the budget.
