Commonwealth Numbered Acts

A NEW TAX SYSTEM (INCOME TAX LAWS AMENDMENT) ACT 1999 NO. 60, 1999 - SCHEDULE 1--Exempting

Income Tax Assessment Act 1997

1 Section 11-15 (table item headed "social security or like payments")

Before:

child care assistance

52-120

Insert:

bonus payments made to certain older Australians

Subdivision 52-E

2 After subsection 36-20(3)

Insert:

(3A) Excluded exempt income also includes exempt income to which section 52-130 (about exempting bonus payments made to certain older Australians) applies.

3 After Subdivision 52-D

Insert:

Subdivision 52-E--Exempt payments under the A New Tax System (Bonuses for Older Australians) Act 1999 Table of sections

52-130 Bonus payments made to certain older Australians are exempt

52-130 Bonus payments made to certain older Australians are exempt A payment made to you under the A New Tax System (Bonuses for Older Australians) Act 1999 is exempt from income tax.