Summary
Amends the: Income Tax Assessment Act 1936 to increase the low income tax offset and the income threshold at which the low income tax offset begins to be withdrawn; Income Tax Rates Act 1986 to: increase the personal income tax thresholds for resident and non-resident taxpayers; and make consequential amendments; and Medicare Levy Act 1986 to increase the income threshold that applies to taxpayers who are eligible for the Senior Australians Tax Offset. Also contains an application provision.