Commonwealth Numbered Acts Commonwealth Numbered ActsIncome Tax Assessment Act 1936
1Omit "$24,450", substitute "$27,475".
2 Subsection 159N(2)
Omit "$150", substitute "$235".
3 Subsection 159N(2)
Omit "$20,700", substitute "$21,600".
4 Clause 1 of Part I of Schedule 7 (table)
Repeal the table, substitute:
Tax rates for resident taxpayers | ||
|---|---|---|
Item | For the part of the ordinary taxable income of the taxpayer that: | The rate is: |
1 | exceeds $6,000 but does not exceed $21,600 | 17% |
2 | exceeds $21,600 but does not exceed $52,000 | 30% |
3 | exceeds $52,000 but does not exceed $62,500 | 42% |
4 | exceeds $62,500 | 47% |
5 Clause 1 of Part II of Schedule 7 (table)
Repeal the table, substitute:
Tax rates for non-resident taxpayers | ||
|---|---|---|
Item | For the part of the ordinary taxable income of the taxpayer that: | The rate is: |
1 | does not exceed $21,600 | 29% |
2 | exceeds $21,600 but does not exceed $52,000 |
30% |
3 | exceeds $52,000 but does not exceed $62,500 | 42% |
4 | exceeds $62,500 | 47% |
6 Subparagraph 2(b)(ii) of Division 2 of Part I of Schedule 8
Omit "$20,000" (wherever occurring), substitute "$21,600".
7 Paragraph 2(b) of Part I of Schedule 10
Omit "$20,000" (wherever occurring), substitute "$21,600".
8 Subsection 3(1) (paragraph (a) of the definition of phase-in limit)
Omit "$21,621", substitute "$22,162".
9 Subsection 3(1) (paragraph (a) of the definition of threshold amount)
Omit "$20,000", substitute "$20,500".