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11 May 06 Personal Tax Reduction and Improved Depreciation Arrangements Bill introduced

On 11 May 2006, Tax Laws Amendment (Personal Tax Reduction and Improved Depreciation Arrangements) Bill 2006 was introduced into the House of Representatives. The Bill implements the tax rate changes announced by the Treasurer in the 2006-07 Budget - see 2006 TAXVINE No 16 (4) (9 May 2006) - together with the increase in the low income tax offset, the increase in the threshold for the Medicare Levy and the increase in the diminishing value rate from 150% to 200%.

For a copy of the Bill, go here

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