Income Tax (Adjustment of Taxable Income Ranges) Amendment Bill

This Act is the Income Tax (Adjustment of Taxable Income Ranges) Amendment Act . This Act comes into force on the day after the date on which it receives the Royal assent. This Act amends the Income Tax Act 2007 (the ). In section YA 1, insert the following definition in its appropriate alphabetical order: means the dollar ranges set out in the following tables: Schedule 1, Part A, Table 1: Schedule 1, Part C, Table 1: Schedule 1, Part D, Table 1: Schedule 6, Table 1 After section YA 2, insert: The Commissioner must, within 12 months of the return of the writ after a general election, review all specified dollar ranges to determine if they should be adjusted to reflect movement in the consumers price index in the period since the specified dollar ranges were last reviewed. For the purpose