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Monday, 28 June 1999
Page: 6597


Senator KEMP (Assistant Treasurer) (3:31 PM) —by leave—I move government amendments Nos 1, 2 and 3:

(1) Schedule 1, item 11, page 4 (lines 2 to 5), omit the item, substitute:

11 Subsection 20E(2) (table)

Repeal the table, substitute:

Tax rates for resident taxpayer

Column 1

Column 2

For the part of the ordinary taxable income of the taxpayer that:

The rate is:

exceeds $20,000 but does not exceed the adjusted tax-free threshold

13%

exceeds the adjusted tax-free threshold but does not exceed $50,000

30%

exceeds $50,000 but does not exceed $60,000

42%

exceeds $60,000

47%

Note: The heading to section 20E is altered by omitting "$20,700 " and substituting "$20,000 ".

(2) Schedule 1, item 14, page 4 (lines 10 to 12), omit the item, substitute:

14 Clause 1 of Part I of Schedule 7 (table)

Repeal the table, substitute:

Tax rates for resident taxpayer

Column 1 For the part of the ordinary taxable income of the taxpayer that:

Column 2 The rate is:

exceeds $6,000 but does not exceed $20,000

17%

exceeds $20,000 but does not exceed $50,000

30%

exceeds $50,000 but does not exceed $60,000

42%

exceeds $60,000

47%

(3) Schedule 1, item 15, page 5 (lines 1 to 3), omit the item, substitute:

15 Clause 1 of Part II of Schedule 7 (table)

Repeal the table, substitute:

Tax rates for non-resident taxpayer

Column 1 For the part of the ordinary taxable income of the taxpayer that:

Column 2 The rate is:

does not exceed $20,000

29%

exceeds $20,000 but does not exceed $50,000

30%

exceeds $50,000 but does not exceed $60,000

42%

exceeds $60,000

47%