Clean Energy (Tax Laws Amendments) Act 2011 (159 of 2011)

Schedule 1   Low-income tax offset

Part 2   Amendments applying from the 2015-16 year of income

Income Tax Assessment Act 1936

5   Subsection 159N(2)

Repeal the subsection, substitute:

(2) The amount of the rebate is $300, reduced by 1 cent for every $1 of the amount (if any) by which the taxpayer's taxable income of the year of income exceeds $37,000.