Treasury Laws Amendment (Personal Income Tax Plan) Bill 2018

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Act
Parliament no
45

Track (What's this?)

Permalink

Summary

Amends the: Income Tax Assessment Act 1997, Income Tax Assessment Act 1936 and Taxation Administration Act 1953 to: introduce a low and middle income tax offset to reduce the tax payable by low and middle income earners that are Australian residents in the 2018-19, 2019-20, 2020-21 and 2021-22 financial years; and merge the low and middle income offset and the current low income tax offset into a new low income tax offset from the 2022-23 financial year; Income Tax Rates Act 1986 to progressively increase the income tax rate thresholds in the 2018-19, 2022-23 and 2024-25 financial years; and Income Tax Assessment (1936 Act) Regulation 2015 and five Acts to make consequential amendments.

Progress

House of Representatives
Introduced and read a first time 09 May 2018
Second reading moved 09 May 2018
Second reading debate 22 May 2018
Second reading debate 23 May 2018
Second reading agreed to 23 May 2018
Consideration in detail debate 23 May 2018
Third reading agreed to 23 May 2018
Senate
Introduced and read a first time 18 Jun 2018
Second reading moved 18 Jun 2018
Second reading debate 19 Jun 2018
Second reading debate 20 Jun 2018
Second reading agreed to 20 Jun 2018
Committee of the Whole debate
  • Amendment details: 3 Opposition agreed to
20 Jun 2018
Third reading agreed to 20 Jun 2018
House of Representatives
Consideration of Senate message
  • Details: House disagreed to Senate amendments
21 Jun 2018
Senate
Consideration of House of Reps message
  • Details: Senate did not insist on its amendments
21 Jun 2018
Finally passed both Houses 21 Jun 2018
Assent
  • Act no: 47
  • Year: 2018
21 Jun 2018

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.

We acknowledge the traditional owners and custodians of country throughout Australia and acknowledge their continuing connection to land, waters and community. We pay our respects to the people, the cultures and the elders past, present and emerging.

Aboriginal and Torres Strait Islander people are advised that this website may contain images and voices of deceased people.