Annual confirmation of income tax rates
Summary of proposed amendment
The bill sets the annual income tax rates that will apply for the 2012–13 tax year. The annual rates to be confirmed are the same rates that applied for the 2011–12 tax year.
The provision will apply for the 2012–13 tax year.
The annual income tax rates for the 2012–13 tax year will be set at the rates specified in Schedule 1 of the Income Tax Act 2007.