Part of a package of six bills to give effect to the Government’s Nation Building and Jobs Plan, the bill makes consequential amendments to the
Income Tax Assessment Act 1936,
Income Tax Assessment Act 1997,
Social Security Act 1991,
Taxation Administration Act 1953 and
Veterans’ Entitlement Act 1986 to: ensure bonus payments are not treated as income for tax and welfare related purposes; and provide for administrative arrangements applicable to the bonus payments.