Tax Laws Amendment (Personal Tax Reduction and Improved Depreciation Arrangements) Act 2006 (55 of 2006)

Schedule 1   Reduced personal income tax rates

Part 3   Application

32   Application

(1) The amendments made by this Schedule, except the amendment of the Income Tax (Bearer Debentures) Act 1971, apply to assessments for the 2006-2007 year of income and later years of income.

(2) The amendment of the Income Tax (Bearer Debentures) Act 1971 made by this Schedule applies to interest paid or credited after 30 June 2006.