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24 Feb 11 Flood levy Bills passed by House

On 24 February 2011, Tax Laws Amendment (Temporary Flood Reconstruction Levy) Bill 2011 and Income Tax Rates Amendment (Temporary Flood Reconstruction Levy) Bill 2011 were passed by the House of Representatives without amendment.

The Bills introduce a one-year progressive flood reconstruction levy in the form of additional income tax on Australian resident and foreign resident individuals in the 2011-12 financial year: see 2010 TAXVINE No 4 (11 February 2011).

The Bills now proceed to the Senate.

 


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