Commonwealth of Australia Explanatory Memoranda

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TAX LAWS AMENDMENT (INCOME TAX RATES) BILL 2012

                                    2010-2011-2012



       THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA



                          HOUSE OF REPRESENTATIVES




          TAX LAWS AMENDMENT (INCOME TAX RATES) BILL 2012




              SUPPLEMENTARY EXPLANATORY MEMORANDUM



               Amendments to be moved on behalf of the Government.




Explanation of amendments

Amendments 3 to 5 make consequential amendments to the $732 threshold for
non-resident minors. The threshold will be reduced from $732 to $663 as a result of
the changes to the tax rates legislated to take effect from the 2012-13 year of income.

Amendment 7 further reduces the threshold amount from $663 to $653 as a result of
the changes to the tax rates legislated to take effect from 1 July 2015.

Amendment 1 sets out the commencement of the amendments.

Amendments 2 and 6 are consequential amendments to the Bill.




                         (Circulated by the authority of the
           Deputy Prime Minister and Treasurer, the Hon Wayne Swan MP)