"The Coalitions Paid Parental Leave scheme is funded by a 1.5 percent levy on companies with taxable incomes in excess of $5 million. This will apply only to taxable income in excess of $5 million. The levy will affect approximately 3,370 out of 770,000 companies in Australia. From 2013-14, all companies will receive the benefit of a 1.5 precentage point reduction in the company tax rate."
"...funding the Coalitions Paid Parental Leave scheme through a levy of 1.5 percent on a relatively small number of larger companies is the only way for Australia to achieve a decent Paid Parental Leave scheme in the near future. Once the Budget position has been restored we will reduce the levy and eventually abolish it entirely."
