TAX BONUS FOR WORKING AUSTRALIANS ACT (NO 2) 2009 (REPEALED)

SECTION 4   DEFINITIONS  

4(1)    
In this Act:

adjusted tax liability
has the meaning given by subsection (2).

assessable income
has the meaning given by the Income Tax Assessment Act 1997 .

Australian resident
has the meaning given by the Income Tax Assessment Act 1997 .

basic income tax liability
means basic income tax liability worked out in accordance with step 2 of the method statement in subsection 4-10(3) of the Income Tax Assessment Act 1997 .

Commissioner
means the Commissioner of Taxation.

excepted assessable income
has the same meaning as in section 102AE of the Income Tax Assessment Act 1936 .

excepted person
has the same meaning as in section 102AC of the Income Tax Assessment Act 1936 .

general interest charge
means the charge worked out under Part IIA of the Taxation Administration Act 1953 .

income tax return
has the meaning given by the Income Tax Assessment Act 1997 .

income year
has the meaning given by the Income Tax Assessment Act 1997 .

Medicare levy
means the Medicare levy imposed by the Medicare Levy Act 1986 .

Medicare levy surcharge
has the meaning given by the Income Tax Assessment Act 1997 .

prescribed person
has the same meaning as in section 102AC of the Income Tax Assessment Act 1936 .

taxable income
has the meaning given by the Income Tax Assessment Act 1997 .

tax bonus
has the meaning given by subsection 5(1) .

tax offset
has the meaning given by the Income Tax Assessment Act 1997 .

4(2)    
Work out a person ' s adjusted tax liability for an income year as follows:

(a) firstly, work out the sum of the following:

(i) the person ' s basic income tax liability for that income year;

(ii) the person ' s Medicare levy (if any) for that income year;

(iii) the person ' s Medicare levy surcharge (if any) for that income year;

(b) next, reduce the amount worked out under paragraph (a) by the sum of the person ' s tax offsets (if any) for that income year.