Scott Ryan (President) Share this | Hansard source

The question is that amendments (1) to (7) on sheet 8431 be agreed to.

Opposition 's circulated amendments—

(1) Schedule 1, item 1, page 3 (lines 24 and 25), omit "2018-19, 2019-20, 2020-21 or 2021-22 income year", substitute "2018-19 income year or a later income year".

[Low and Middle Income tax offset]

(2) Schedule 1, item 1, page 4 (lines 5 and 6), omit "2018-19, 2019-20, 2020-21 or 2021-22 income year", substitute "2018-19 income year or a later income year".

[Low and Middle Income tax offset]

(3) Schedule 1, item 1, page 4 (lines 17 and 18), omit the note.

[consequential—Low and Middle Income tax offset]

(4) Schedule 1, item 1, page 4 (line 20) to page 5 (line 2), omit subsection 61-107(1), substitute:

General rule—2018 -2019 income year

(1) The amount of your *tax offset for the 2018-19 income year is set out in the following table in respect of the following income (your relevant income):

(a) if you are an individual—your taxable income for the income year;

(b) if you are a trustee—the amount of the share of *net income referred to in subsection 61-105(2).

[Low and Middle Income tax offset]

(5) Schedule 1, item 1, page 5 (after line 2), after subsection 61-107(1), insert:

General rule—2019 -20 income year and later income years

(1A) The amount of your *tax offset for the 2019-20 income year or a later income year is set out in the following table in respect of the following income (your relevant income):

(a) if you are an individual—your taxable income for the income year;

(b) if you are a trustee—the amount of the share of *net income referred to in subsection 61-105(2).

[Low and Middle Income tax offset]

(6) Schedule 1, item 1, page 5 (line 4), omit "subsection (1)", substitute "subsections (1) and (1A)".

[consequential—Low and Middle Income tax offset]

(7) Schedule 1, item 1, page 5 (line 23), omit "subsection (1)", substitute "subsections (1) and (1A)".

[consequential—Low and Middle Income tax offset]