Tax Laws Amendment (Personal Tax Reduction and Improved Depreciation Arrangements) Act 2006 (55 of 2006)
Schedule 1 Reduced personal income tax rates
Part 1 Main amendments
Income Tax Rates Act 1986
1 Clause 1 of Part I of Schedule 7 (table)
Repeal the table, substitute:
|
Tax rates for resident taxpayers |
||
|
Item |
For the part of the ordinary taxable income of the taxpayer that: |
The rate is: |
|
1 |
exceeds $6,000 but does not exceed $25,000 |
15% |
|
2 |
exceeds $25,000 but does not exceed $75,000 |
30% |
|
3 |
exceeds $75,000 but does not exceed $150,000 |
40% |
|
4 |
exceeds $150,000 |
45% |
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