Tax Laws Amendment (Personal Income Tax Reduction) Bill 2005

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
41

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Summary

Amends the: Income Tax Rates Act 1986 to: reduce the lowest marginal tax rate from 17 per cent to 15 per cent; and provide for increases in personal income tax thresholds for the 42 per cent and 47 per cent tax brackets; and Medicare Levy Act 1986 to increase the income threshold for taxpayers who are eligible for the senior Australians tax offset.

Progress

House of Representatives
Introduced and read a first time 12 May 2005
Second reading moved 12 May 2005
Second reading agreed to 25 May 2005
Third reading agreed to 25 May 2005
Senate
Introduced and read a first time 14 Jun 2005
Second reading moved 14 Jun 2005
Second reading agreed to 14 Jun 2005
Committee of the Whole debate
  • Amendment details: 5 Opposition agreed to
15 Jun 2005
Third reading agreed to 15 Jun 2005
House of Representatives
Consideration of Senate message
  • Details: House disagreed to Senate amendments
15 Jun 2005
Senate
Consideration of House of Reps message
  • Details: Senate insisted on amendments
16 Jun 2005
House of Representatives
Message from Senate reported 20 Jun 2005
Consideration of Senate message
  • Details: House disagreed to amendments insisted on by Senate
09 Aug 2005
Senate
Consideration of House of Reps message
  • Details: Senate did not again insist on its amendments
10 Aug 2005
Assent
  • Act no.: 101
  • Year: 2005
12 Aug 2005

Documents and transcripts

Text of bill

Explanatory memoranda

Proposed amendments

House of representatives

Senate

Schedules of amendments

Bills digest

Notes

Helpful information

Text of bill

  • First reading: Text of the bill as introduced into the Parliament
  • Third reading: Prepared if the bill is amended by the house in which it was introduced. This version of the bill is then considered by the second house.
  • As passed by both houses: Final text of bill agreed to by both the House of Representatives and the Senate which is presented to the Governor-General for assent.

Explanatory memoranda

  • Explanatory memorandum: Accompanies and provides an explanation of the content of the introduced version (first reading) of the bill.
  • Supplementary explanatory memorandum: Accompanies and explains amendments proposed by the government to the bill.
  • Revised explanatory memorandum: Accompanies and explains the amended version (third reading) of the bill. It supersedes the explanatory memorandum.

Proposed amendments

Circulated by members and senators when they propose to make changes to the bill. For details about the outcome of proposed amendments please refer to either the Votes and Proceedings (House of Representatives) or the Journals (Senate).

Schedules of amendments

Schedules of amendments list amendments agreed to by the second house are communicated to the first house for consideration. Subsequent action by either house may also be included in a schedule.

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