Income tax rates

(Clause 3)

Summary of proposed amendment

The bill sets the annual income tax rates that will apply for the 2010–11 tax year.

Application date

The amendment will apply for the 2010–11 tax year.

Key features

The annual income tax rates for the 2010–11 tax year will be set at the rates specified in schedule 1 of the Income Tax Act 2007.

The rates in schedule 1 that apply for the 2010–11 year are those that applied for the 2009–10 year.