Bill
Treasury Laws Amendment (A Tax Plan for the COVID-19 Economic Recovery) Bill 2020
passed, as at 2020-10-14. Treasury portfolio.
- Sponsor
- Not recorded
- Portfolio
- Treasury
Recorded stages
- introduced — 2020-10-07
- second reading — 2020-10-07
- second reading — 2020-10-08
- second reading — 2020-10-08
- third reading — 2020-10-08
- introduced — 2020-10-08
- second reading — 2020-10-08
- second reading — 2020-10-08
- second reading — 2020-10-09
- second reading — 2020-10-09
- committee — 2020-10-09
- third reading — 2020-10-09
- third reading — 2020-10-09
- third reading — 2020-10-09
- passed — 2020-10-09
- royal assent — 2020-10-14
Divisions
No divisions recorded. Most questions are decided on the voices; this does not establish that a bill was unopposed.
Plain-language summary
Written by a model from the explanatory memorandum; not the record, as at 2020-10-07.
The bill would cut income tax for individuals to help the economy recover from the coronavirus pandemic.
It would bring forward planned tax threshold changes and replace the existing low income tax offset with a new one, starting from the 2020-21 income year.
The low and middle income tax offset would stay for 2020-21 but end after the 2021-22 income year.
- Brings forward tax threshold changes to the 2020-21 income year.
- Replaces the existing low income tax offset with a new one from 2020-21.
- Extends the low and middle income tax offset for one more year.
Taxpaying individuals.
Sources
em
billhome
frl act