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19 Jun 12 Income Tax Rates Bill awaits Royal Assent

On 18 June 2012, the Senate passed Tax Laws Amendment (Income Tax Rates) Bill 2012 without amendment.

The Bill is part of a package of three bills in relation to the Seasonal Labour Mobility Program and other taxation matters.

The Bill amends the Income Tax Rates Act 1986 to merge the first two personal marginal tax rate thresholds for non-resident workers into a single threshold and align the rate for this new threshold with the second marginal tax rate for resident workers.

The Bill now awaits Royal Assent.

 


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