expensive tax breaks

The Commonwealth Treasury’s 2016 Tax Expenditures Statement (published in January 2017) shows Australia’s ten most expensive tax breaks are:

  1. Main residence exemption from CGT: $61.5 billion.
  2. Concessional taxation of superannuation earnings $16.9 billion.
  3. Concessional taxation of superannuation contributions $16.9 billion.
  4. CGT discount for individuals and trusts $9.6 billion.
  5. GST exemption for fresh food $6.9 billion.
  6. GST exemption for education $4.5 billion.
  7. GST exemption for health services $4 billion.
  8. GST exemption for financial services $3.9 billion.
  9. Concessional taxation of termination benefits $2.6 billion.
  10. Exemption from interest withholding tax on securities $2.3 billion.