Malcolm Roberts (Queensland, Pauline Hanson's One Nation Party) Share this | Hansard source

I move Pauline Hanson's One Nation amendment (1) on sheet 2342:

That the House of Representatives be requested to make the following amendment.

(1) Page 4 (after line 6), at the end of the Bill, add:

Schedule 2 — Indexation of income tax thresholds

Income Tax Rates Act 1986

1 Subsection 3(1)

Insert:

income tax threshold means the following amounts (subject to indexation under section 20A):

(a) the dollar amount mentioned in the definition of tax-free threshold in this subsection;

(b) each dollar amount mentioned in the table in clause 1 of Part I of Schedule 7 (table dealing with tax rates for resident taxpayers);

(c) each dollar amount mentioned in the table in clause 1 of Part II of Schedule 7 (table dealing with tax rates for non-resident taxpayers);

(d) each dollar amount mentioned in the table in clause 1 of Part III of Schedule 7 (table dealing with tax rates for working holiday makers).

2 At the end of Part II

Add:

Division 5 — Indexation of income tax thresholds

20A Indexation of income tax thresholds

Indexation

(1) On 1 July 2025 and each later 1 July (the indexation day), each income tax threshold is replaced by the amount worked out using the following formula:

(2) However, subsection (1) does not apply for an indexation day if the indexation factor for the indexation day is 1 or less.

(3) The amount worked out under subsection (1) is to be rounded to the nearest whole dollar (rounding 50 cents upwards).

Indexation factor

(4) The indexation factor for an indexation day is the number worked out using the following formula:

Note: For index number, reference quarter and base quarter see subsection (8).

(5) The indexation factor is to be worked out to 3 decimal places (rounding up if the fourth decimal place is 5 or more).

Changes to CPI index reference period and publication of substituted index numbers

(6) Amounts are to be worked out under this section:

(a) using only the index numbers published in terms of the most recently published index reference period for the Consumer Price Index; and

(b) disregarding index numbers published in substitution for previously published index numbers (except where the substituted numbers are published to take account of changes in the index reference period).

Publication of income tax thresholds

(7) The Commissioner must, by notifiable instrument, publish the amounts worked out under subsection (1) for an indexation day as soon as practicable before the indexation day.

Definitions

(8) In this section:

base quarter means the last March quarter before the reference quarter.

index number, for a quarter, means the All Groups Consumer Price Index number (being the weighted average of the 8 capital cities) published by the Australian Statistician for that quarter.

March quarter means a period of 3 months starting on 1 January.

reference quarter means the last March quarter before the indexation day.

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Statement pursuant to the order of the Senate of 26 June 2000

Amendment (1)

Amendment (1) is framed as a request because it amends a bill which imposes taxation within the meaning of section 53 of the Constitution. The Senate may not amend a bill imposing taxation.

The amendment should therefore be moved as a request.

Statement by the Clerk of the Senate pursuant to the order of the Senate of 26 June 2000

Amendment (1)

As this is a bill imposing taxation within the meaning of section 53 of the Constitution, any Senate amendment to the bill must be moved as a request. This is in accordance with the precedents of the Senate.