Summary
Part of a package of six bills to give effect to the Government’s Nation Building and Jobs Plan, the bill makes consequential amendments to the
Income Tax Assessment Act 1936
,
Income Tax Assessment Act 1997
,
Social Security Act 1991
,
Taxation Administration Act 1953
and
Veterans’ Entitlement Act 1986
to: ensure bonus payments are not treated as income for tax and welfare related purposes; and provide for administrative arrangements applicable to the bonus payments.