House of Representatives

Tax Laws Amendment (Income Tax Rates) Bill 2012

Second Reading Speech

Senator Wong (Minister for Finance and Deregulation)

This Bill amends the personal tax rates for the ordinary taxable income of non residents for tax purposes. This amendment will ensure that these rates continue to align with those of Australian resident taxpayers, as has historically been the case.

From 1 July 2012, the first two personal marginal tax rate thresholds for non residents will be merged into a single threshold. The rate for this threshold will be linked to the second personal income tax rate for resident taxpayers.

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