Following the Coalition victory in the recent federal election, the tax changes that were to occur under a Labor elected government will now not occur. The proposed Labor policy changes that will not take place include:

No cash refunds of excess imputation credits
Limit on negative gearing
The reduction of the capital gains discount from 50% to 25%
A $3,000 deduction cap on the cost of managing tax affairs

Meanwhile what is likely to occur as a result of the re-election of the Coalition are the following tax related changes (subject to legislation passing in the Senate):

Increase to the low-and-middle income tax offset from $530 to $1,080 from 1 July 2018
Lowering of the 32.5% marginal tax rate to 30% from 1 July 2024
An increase to the instant asset write-off to $30,000 (already law)
Defering the start date of the proposed Div 7A changes to 1 July 2020
Enabling those approaching retirement to put more money into their superannuation
The proposed First Home Loan Deposit Scheme that will help eligible first home buyers to purchase a house with a deposit as low as 5% (thereby potentially saving such taxpayers around $10,000 in lenders mortgage insurance)