Income Tax Rates Amendment (Temporary Budget Repair Levy) Bill 2014

Type
Government
Portfolio
Treasury 
Originating house
House of Representatives 
Status
Act 
Parliament no
44
Summary
Part of a package of 15 bills to implement a three-year progressive budget repair levy, the bill amends the
Income Tax Rates Act 1986
  to increase by two per cent: the income tax rates payable on taxable income that exceeds $180 000; certain other income tax rates that are aligned with the top personal marginal tax rate or with calculations comprising that rate and the Medicare levy; and the income tax rate applicable to the unearned income of a minor. 

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Progress

House of Representatives
13 May 2014Introduced and read a first time
13 May 2014Second reading moved
27 May 2014Second reading debate
28 May 2014Second reading debate
28 May 2014Second reading agreed to
28 May 2014Third reading agreed to
Senate
16 Jun 2014Introduced and read a first time
16 Jun 2014Second reading moved
16 Jun 2014Second reading debate
16 Jun 2014Second reading agreed to
17 Jun 2014Committee of the Whole debate
17 Jun 2014Third reading agreed to


17 Jun 2014Finally passed both Houses
25 Jun 2014Assent

Act no.: 45

Year: 2014

Documents and transcripts

Text of bill

Word Format PDF Format
Word Format PDF Format

Explanatory memoranda

Word Format PDF Format

Transcript of speeches

Proposed amendments

No documents at present

Schedules of amendments

No documents at present

Committee Information

No documents at present

Bills Digest PDF Format

Notes

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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 changed to the bill. For details about the outcome of proposed amendments please refer to either theĀ 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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