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Bills of the current Parliament

Although every effort is made to ensure the accuracy of bills homepages, the authoritative sources for verifying the progress of bills are the House of Representatives Votes and Proceedings and the Journals of the Senate.

Treasury Laws Amendment (Tax Relief So Working Australians Keep More Of Their Money) Bill 2019


Type
Government
Originating house
House of Representatives
Status
Assent
Portfolio
Treasury

Summary

Amends the: Income Tax Assessment Act 1997 to: increase the base and maximum amounts of the low and middle income tax offset to $255 and $1080, respectively, for the 2018-19, 2019-20, 2020-21 and 2021-22 financial years; and increase the maximum amount of the low income tax offset from $645 to $700 from the 2022-23 financial year; and Income Tax Rates Act 1986 to reduce the tax payable by individuals from the 2022-23 financial year by increasing the top threshold of the 19 per cent income tax bracket from $41 000 to $45 000, and from the 2024-25 financial year by reducing the 32.5 per cent income tax rate to 30 per cent.

Progress of bill

For committee reference information, please see the Notes section at the end of this page.

House of Representatives
Introduced and read a first time 02/07/19  
Second reading moved 02/07/19  
Second reading debate 02/07/19  
Second reading agreed to 02/07/19  
Consideration in detail debate 02/07/19  
Third reading moved 02/07/19  
Third reading debated 02/07/19  
Third reading agreed to 02/07/19  
     
Senate
Introduced and read a first time 04/07/19  
Second reading moved 04/07/19  
Second reading debate 04/07/19  
Second reading agreed to 04/07/19  
Committee of the Whole debate 04/07/19  
Third reading agreed to 04/07/19  
     
Finally passed both Houses 04/07/19  
Assent 05/07/19 Act no: 52 - Year: 2019
     

Text of bill

  • First reading

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  • As passed by both Houses

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Explanatory memoranda

  • Explanatory memorandum

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Second reading speeches


Proposed amendments

House of Representatives
  • Non-Government
ALBANESE, Anthony, MP

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  • Non-Government [sheet 2]
CHALMERS, Jim, MP

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  • Non-Government [sheet 1]
CHALMERS, Jim, MP

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Senate
  • Australian Greens [sheet 8689]
WHISH-WILSON, Sen Peter

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  • Opposition [sheet 8687]
GALLAGHER, Sen Katy

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  • Opposition [sheet 8686]
GALLAGHER, Sen Katy

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  • Opposition [sheet 8684]
GALLAGHER, Sen Katy

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Schedules of amendments

Bills Digest



Notes
  • An electronic version of this Act is available on the Federal Register of Legislation (www.legislation.gov.au)