Julia Gillard (Lalor, Australian Labor Party, Prime Minister) Share this | Link to this | Hansard source

I move:

That this bill be now read a second time.

The Income Tax Rates Amendment (Temporary Flood Reconstruction Levy) Bill 2011 will introduce new tax rates for the 2011-12 financial year, which will give effect to the Tax Laws Amendment (Temporary Flood Reconstruction Levy) Bill.

The existing tax rates will continue to apply for taxpayers who are exempt from paying the temporary flood reconstruction levy.

I commend the bill to the House.

Debate (on motion by Mr Anthony Smith) adjourned.