Annual confirmation of income tax rates

(Clause 3)

Summary of proposed amendment

The bill sets the annual income tax rates that will apply for the 2013–14 tax year. The annual rates to be confirmed are the same that applied for the 2012–13 tax year.

Application date

The provision will apply for the 2013–14 tax year.

Key features

The annual income tax rates for the 2013–14 tax year will be set at the rates specified in schedule 1 of the Income Tax Act 2007.