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Thursday, 24 May 2012
Page: 5487


Mr BRADBURY (LindsayAssistant Treasurer and Minister Assisting for Deregulation) (00:00): I move:

That this bill be now read a second time.

This bill amends the personal tax rates for the ordinary taxable income of nonresidents 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 nonresidents 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.

Full details of the measures in this bill are contained in the explanatory memorandum.

Debate adjourned.

Ordered that the second reading be made an order of the day for the next sitting.