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Part 1: Expense Measures (Continued)

Treasury

Allowing a 10 year transition path for the taxation of domestic ethanol

Expense ($m)

	2009‑10	2010‑11	2011‑12	2012‑13	2013‑14
Australian Taxation Office	-	-	-	-	-

The Government will provide $33.4 million over the forward years to the Australian Taxation Office to extend the phase-in arrangements for domestic ethanol for an additional five years from 1 July 2015 to 30 June 2020.

The changes will provide assistance to domestic ethanol producers by extending the existing Ethanol Production Grant program. The program currently provides excise offsetting grants to domestic producers of ethanol.

The cost of this measure will be met from the existing funding provision for the Renewable Energy Future Fund.

This measure delivers on the Government's agreement with the Member for New England, the Hon Tony Windsor MP.

Education Tax Refund — information campaign

Expense ($m)

	2009‑10	2010‑11	2011‑12	2012‑13	2013‑14
Department of the Treasury	-	6.6	-	-	-
Australian Taxation Office	-	-4.2	-2.4	-	-
Total	-	2.5	-2.4	-	-

The Government will provide $8.6 million in 2010‑11 to undertake an information campaign on the eligibility criteria for the Education Tax Refund. The Government will provide $6.6 million additional funding to the Treasury, with the remaining $2 million costs absorbed by the Treasury. The $6.6 million funding for the Treasury will be offset by redirecting funding from the Australian Taxation Office's Private Health Insurance and Superannuation media campaigns.

Fairer, Simpler, Banking

Expense ($m)

	2009‑10	2010‑11	2011‑12	2012‑13	2013‑14
Australian Securities and Investments Commission	-	-	-	-	-

The Government will introduce reforms in relation to credit card practices. The reforms include removing over the limit fees, unless a consumer agrees that their account can go over the limit, and a requirement that credit card providers allocate repayments to higher interest debts first. The Australian Securities and Investments Commission will provide regulatory guidance on elements of the reforms.

This measure delivers on the Government's election commitment.

Helping Our Kids Understand Finances

Expense ($m)

	2009‑10	2010‑11	2011‑12	2012‑13	2013‑14
Australian Securities and Investments Commission	-	2.0	4.0	4.0	-

The Government will provide $10 million over three years from 2010‑11 to the Australian Securities and Investments Commission to deliver face-to-face training to 6,000 teachers and pre-service teachers covering the elements of financial literacy within the national curriculum.

Funding will also support the provision of online professional learning modules for teachers and online and digital resources for students.

This measure delivers on the Government's election commitment.

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