Taxation (Income Tax Rate and Other Amendments) Bill

Commentary on proposed amendments included in the Taxation (Income Tax Rate and Other Amendments) Bill introduced to Parliament on 2 December 2020.

The proposed amendments cover:

• a new top personal income tax rate of 39% for the 2021–22 and later income years that would apply to annual personal income that exceeds $180,000, and
• other tax rules to ensure that the proposed new top personal tax rate would apply consistently across the personal tax system.