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16 Feb 09 Tax Bonus for Working Australians (No 2) Bills passed

On 12 February 2009, the Senate failed to pass Tax Bonus for Working Australians Bill 2009 and Tax Bonus for Working Australians (Consequential Amendments) Bill 2009, both of which were part of the Government's Nation Building and Jobs Plan.

On the same day, amended Bills, entitled Tax Bonus for Working Australians Bill (No 2) 2009 and Tax Bonus for Working Australians (Consequential Amendments) Bill (No 2) 2009 were introduced into the House of Representatives and passed without amendment. On 13 February 2009, the Bills were passed by the Senate without amendment. The Bills now await Royal Assent.

The bonus is subject to an income threshold test as follows:

  • $900 (reduced from $950) bonus will be paid to eligible taxpayers with a taxable income of up to and including $80,000;
  • $600( reduced from $650) bonus will paid to eligible taxpayers with taxable incomes exceeding $80,000 and up to $90,000; and
  • $250 (reduced from $300) bonus will be paid to eligible taxpayers with incomes exceeding $90,000 up to and including $100,000.
The bonus will be non-assessable non-exempt income.

For a copy of Tax Bonus for Working Australians Bill (No 2) 2009, go here.

For a copy of Tax Bonus for Working Australians (Consequential Amendments) Bill (No 2) 2009, go here.

For a copy of the Explanatory Memorandum, go here.

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