No 250
House of Representatives
Supplementary Order Paper
Tuesday, 18 June 2019
Taxation (Annual Rates for 2019–20, GST Offshore Supplier Registration, and Remedial Matters) Bill
Proposed amendment
Andrew Bayly, in Committee, to move the following amendment:
Clause 3
Replace clause 3 (page 10, lines 3 to 6) with:
3 Annual rates of income tax for 2019–20 tax year
(1)
Subsection (2) amends the Income Tax Act 2007.
(2)
In schedule 1, part A, clause 1, replace table 1 with:
Row | Range of dollar in taxable income | Tax rate |
---|
1 | $0 – $14,700 | 0.105 |
2 | $14,701 – $50,300 | 0.175 |
3 | $50,301 – $73,400 | 0.300 |
4 | $73,401 upwards | 0.330 |
Find the range in the second column for each dollar in the person’s taxable income, and apply the relevant rate for the dollar in the third column. |
(3)
Income tax imposed by section BB 1 (Imposition of income tax) of the Income Tax Act 2007 must, for the 2019–20 tax year, be paid at the basic rates specified in schedule 1 of that Act.