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18 Apr 11 Flood levy Bills receive Royal Assent

On 12 April 2011, the following Bills received Royal Assent:

  • Tax Laws Amendment (Temporary Flood and Cyclone Reconstruction Levy) Bill 2011, as Act No 16 of 2011
  • Income Tax Rates Amendment (Temporary Flood and Cyclone Reconstruction Levy) Bill 2011, as Act No 15 of 2011.

The Acts amend ITAA 1997 and Income Tax (Transitional Provisions) Act 1997 to implement a one-year progressive flood and cyclone reconstruction levy in the form of additional income tax in the 2011-12 financial year.

 


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