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Tax Bonus for Working Australians (Consequential Amendments) Bill 2009

Schedule 1 Amendments

   

Income Tax Assessment Act 1936

1  Subsection 159J(6) (at the end of the definition of separate net income )

Add:

            ; and (d)  does not include tax bonus paid in accordance with the Tax Bonus for Working Australians Act 2009 .

Income Tax Assessment Act 1997

2  Section 11-55 (after table item headed “superannuation”)

Insert:

tax bonus

 

payments in accordance with the Tax Bonus for Working Australians Act 2009 .........................................................

59-45

3  At the end of Division 59

Add:

59-45   Tax bonus for the 2007-08 income year

                   A tax bonus paid in accordance with the Tax Bonus for Working Australians Act 2009 is not assessable income and is not * exempt income.

Social Security Act 1991

4  After paragraph 8(8)(y)

Insert:

                  (yaa)  a tax bonus (within the meaning of the Tax Bonus for Working Australians Act 2009 );

Taxation Administration Act 1953

5  Subsection 8AAB(5) (after table item 18)

Insert:

18A

9

Tax Bonus for Working Australians Act 2009

6  Section 8AAZA (paragraph (a) of the definition of credit )

After “the Product Grants and Benefits Administration Act 2000 ”, insert “, the Tax Bonus for Working Australians Act 2009 ”.

7  Subsection 250-10(2) in Schedule 1 (after table item 140)

Insert:

142

tax bonus overpayments

subsection 8(3)

Tax Bonus for Working Australians Act 2009

Veterans’ Entitlements Act 1986

8  After paragraph 5H(8)(zza)

Insert:

              (zzaaa)  a tax bonus (within the meaning of the Tax Bonus for Working Australians Act 2009 );