Senate debates Bills

Treasury Laws Amendment (Personal Income Tax Plan) Bill 2018


Scott Ryan

Scott Ryan President

7:15 pm

The question is that amendments (1), (2) and (17) to (19) on sheet 8441, circulated by Senator Storer, be agreed to.

Senator Storer's circulated amendments—

(1) Clause 2, page 2 (table item 3), omit the table item.

(2) Clause 2, page 2 (table items 5 and 6), omit the table items.

(17) Schedule 2, Part 1, page 13 (starting at line 2), omit the Part, substitute:

Part 1—Main amendments

Income Tax Rates Act 1986

1 Clause 1 of Part I of Schedule 7 (table item 2, column headed " For the part of the ordinary taxable income of the taxpayer that: " )

Omit "$87,000", substitute "$90,000".

2 Clause 1 of Part I of Schedule 7 (table item 3, column headed " For the part of the ordinary taxable income of the taxpayer that: " )

Omit "$87,000", substitute "$90,000".

3 Clause 1 of Part II of Schedule 7 (table item 1, column headed " For the part of the ordinary taxable income of the taxpayer that: " )

Omit "$87,000", substitute "$90,000".

4 Clause 1 of Part II of Schedule 7 (table item 2, column headed " For the part of the ordinary taxable income of the taxpayer that: " )

Omit "$87,000", substitute "$90,000".

5 Clause 4 of Part II of Schedule 7 (example)

Repeal the example.

6 Clause 1 of Part III of Schedule 7 (table item 2, column headed " For the part of the taxpayer ' s working holiday taxable income that: " )

Omit "$87,000", substitute "$90,000".

7 Clause 1 of Part III of Schedule 7 (table item 3, column headed " For the part of the taxpayer ' s working holiday taxable income that: " )

Omit "$87,000", substitute "$90,000".

8 Application

The amendments made by this Part apply to the 2018-19 year of income and later years of income.

(18) Schedule 2, items 10 to 12, page 18 (lines 3 to 12), omit the items.

(19) Schedule 2, items 15 and 16, page 18 (line 22) to page 19 (line 3), omit the items.

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