- Date
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10 May 2007
- Chamber
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House of Representatives
- Status
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Act
-
Portfolio
-
Treasury
- Summary
-
Amends the:
Income Tax Rates Act 1986
to increase the threshold for the 30 per cent marginal tax rate (from 1 July 2007) and increase the thresholds for the top two marginal tax rates (from 1 July 2008); Income Tax Assessment Act 1936
to increase the maximum amount of low income tax offset and raise the threshold at which the offset begins to phase out; and Medicare Levy Act 1986
to increase the income threshold that applies to taxpayers who are eligible for a senior Australians tax offset.