A small number of the previously ignored Henry Review recommendations have been included in the Budget announcements, including:
• A 50% discount on interest earned by individuals up to $1,000 (the Henry Review had recommended 40%), and
• The introduction of a standard deduction for work related expenses of $500 (in 2012-13) increasing to $1,000 (in 2013-14).
$500 deduction will not be much help, as most tax payers claim more then $500 in terms of work related deductions
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