What will my income tax saving be next financial year?

Below I have outlined each of the proposed changes. However, the ABC has a calculator that allows you to see the impact at your level of income for next financial year.
The calculator can be accessed here.

I have a taxable income under $125,334:

A new tax offset, named the Low and Middle Income Tax Offset (LMITO) will apply which will reduce the tax you have to pay.
As it is a tax offset (as opposed to a drop in the tax rate), the benefit will be received when you lodge your tax return - in other words, you will receive it as a lump sum each year, not throughout the year.
If your taxable income is up to $37,000 the maximum offset will be $200.
If your taxable income is between $37,001 and $48,000 the maximum offset will be $530.
If your taxable income is between $48,001 and $90,000 the maximum tax offset will be $530.
If your taxable income is between $90,001 and $125,333 the $530 tax offset reduces by 1.5 cents for each dollar by which your taxable income exceeds $90,000.
The proposed effective date of this measure is 1 July 2018, meaning that the first refunds will be issued from July 2019.

I have a taxable income under $37,001:

You would currently be in receipt of the Low Income Tax Offset (LITO), which is a maximum of $445.
This will increase to $645.
This is in addition to the LMITO discussed above.
The proposed effective date of this measure is 1 July 2022, meaning that the first refunds using the higher amount will be issued from July 2023.

I have a taxable income above $87,000:

You are currently paying 32.5% income tax on the amount of your income between $87,001 and $180,000.
The 32.5% marginal rate will apply to income between $90,001 and $180,000.
The maximum benefit of this measure will be $135.
The proposed effective date of this measure is 1 July 2018.

I have a taxable income above $37,000:

You are currently paying 19% income tax on the amount of your income between $18,201 and $37,000.
The 19% marginal rate will apply to income between $18,201 and $41,000.
The proposed effective date of this measure is 1 July 2022.

I have a taxable income above $90,000:

You are currently paying 32.5% income tax on the amount of your income between $37,001 and $87,000.
As outlined above the upper threshold will increase to $90,000 from 1 July 2018.
This will be further increased to $120,000.
The proposed effective date of this measure is 1 July 2022.

I am currently in the 37% income tax bracket (or above):

The 37% marginal rate currently applies to income between $87,001 and $180,000.
This marginal rate will be abolished completely, meaning that the 32.5% marginal rate will apply to income between $41,001 and $200,000.
The proposed effective date of this measure is 1 July 2024.

I pay the Medicare Levy:

Last year's Budget had proposed that the Medicare Levy be increased from 2% of taxable income to 2.5% of taxable income from 1 July 2018. This has been scrapped.

I pay the Medicare Levy:

If you are single, you currently pay the Medicare Levy once your taxable income exceeds $21,655. This will be increased to $21,980.
If you are a family, you currently pay the Medicare Levy once your combined taxable income exceeds $36,541. This will be increased to $37,089.
If you are of age pension age and single currently you pay the Medicare Levy once your taxable income exceeds $34,244. This will be increased to $34,758.

If you are of age pension age and not single you currently pay the Medicare Levy once your combined taxable income exceeds $47,671. This will be increased to $48,385.

For every child you have, your threshold is currently increased by $3,356. This will be increased to $3,406.
The proposed effective date of this measure is 1 July 2017.

I have a super fund which contains compulsory insurance and I am either under 25 years of age or my fund has not received a contribution in the last 13 months or my super fund balance is less than $6,000:

Currently a number of funds automatically provide life insurance and the premiums erode the person's super balance.
It is proposed that such provision of life insurance is changed to an opt-in cover, as opposed to default cover.
The proposed effective date of this measure is 1 July 2019.

My current super fund has an exit fee:

Exit fees will be banned on all super funds.
The proposed effective date of this measure is 1 July 2019.

I have a super fund with a balance below $6,000:

It is proposed to introduce a 3% annual cap on all 'passive' fees charged by super funds to members with balances below $6,000.
It is understood that passive fees will include administration and investment fees, but not transaction costs.
The proposed effective date of this measure is 1 July 2019.

I receive the age pension and work:

Currently, there is a 'work bonus', which allows employees who are in receipt of the age pension to earn up to $250 per fortnight from employment without it being assessed by Centrelink under the income test.
It is proposed to increase this to $300 per fortnight.

It is also proposed to extend this to sole traders and partners in a partnership.
The proposed effective date of this measure is 1 July 2019.

I am of age pension age and required more income:

Currently, there is a 'pension loan scheme' available to age pension recipients. It is proposed to extend eligibility for this scheme to any one of age pension age including self-funded retirees.

The proposed effective date of this measure is 1 July 2019.

The current 'work test' for super negatively impacts me:

Currently, people aged between 65 and 74 must work a minimum of 40 hours in a consecutive 30 day period in a financial year to be eligible to contribute to super.
It is proposed that where a person has combined superannuation balances of less than $300,000 they will be able to make voluntary contributions to their super for a year following the financial year in which they last met the work test.
The proposed effective date of this measure is 1 July 2019.

I have a self-managed super fund (SMSF):

It is proposed to increase the maximum number of members from the current 4, to 6.
For SMSFs that have three consecutive years of clear audit reports and that have lodged their annual returns in a timely manner, the current requirement to have the fund audited annually will change to a requirement to have the fund audited every three years.
The proposed effective date of this measure is 1 July 2019.

I run a small business:

The ability to deduct purchases of assets costing less than $20,000 will be extended for another twelve months - to 30 June 2019.
For this purpose, a 'small business' is defined as a business with an aggregate annual turnover of less than $10M.
The proposed effective date of this measure is 1 July 2018.

I want to receive aged care services in my home:

Over the next 4 years, an additional 14,000 high level home care packages will be made available.
The proposed effective date of this measure is 1 July 2018.

I am a high-income earner with multiple employers:

Currently, some high-income earners unintentionally breach the $25,000 concessional contributions cap due to the Super Guarantee (SG) contributions made by multiple employers. This is because each employer must meet their SG obligations, which is to pay SG contributions of 9.5% of the quarterly income up to $54,030.
Where a person has income above $263,157 and has more than one employer, they will be able to nominate that their wages from certain employers are not subject to SG.
The proposed effective date of this measure is 1 July 2018.

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