Second Reading Speeches

Income Tax Rates Amendment (Working Holiday Maker Reform) Bill 2016 (No. 2)

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

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Summary

Part of a package of four bills in relation to tax arrangements for working holiday makers, the bill amends the

Income Tax Rates Act 1986
to apply a 15 per cent income tax rate to assessable income derived by working holiday makers on amounts up to $37 000, with ordinary tax rates applying for taxable income exceeding this amount.