Summary
Amends the: Income Tax Assessment Act 1997 and Taxation Administration Act 1953 to abolish the mature age worker tax offset; Income Tax Assessment Act 1997 and Shipping Reform (Tax Incentives) Act 2012 to abolish the seafarer tax offset; and Income Tax Assessment Act 1997 to: reduce the tax offset rates available under the research and development tax incentive by 1.5 per cent; and update the list of deductible gift recipients.