Federal Register of Legislation
Tax Laws Amendment (Personal Tax Reduction and Improved Depreciation Arrangements) Act 2006
No. 55, 2006
An Act to amend the law relating to taxation, and for related purposes
Contents 1 Short title 2 Commencement 3 Schedule(s)
Schedule 1—Reduced personal income tax rates
Part 1—Main amendments Income Tax Rates Act 1986
Part 2—Related amendments A New Tax System (Ultimate Beneficiary Non‑disclosure Tax) Act (No. 1) 1999 A New Tax System (Ultimate Beneficiary Non‑disclosure Tax) Act (No. 2) 1999 Family Trust Distribution Tax (Primary Liability) Act 1998 Income Tax (Bearer Debentures) Act 1971 Income Tax Rates Act 1986 Trust Recoupment Tax Act 1985 Trust Recoupment Tax Assessment Act 1985
Part 3—Application
Schedule 2—Reduced fringe benefits tax rate Fringe Benefits Tax Act 1986
Schedule 3—Increased low income tax offset Income Tax Assessment Act 1936
Schedule 4—Increased threshold for Medicare levy Medicare Levy Act 1986
Schedule 5—Improved depreciation arrangements
Part 1—Main amendments Income Tax Assessment Act 1997 Income Tax (Transitional Provisions) Act 1997
Part 2—Consequential amendments Income Tax Assessment Act 1997
Tax Laws Amendment (Personal Tax Reduction and Improved Depreciation Arrangements) Act 2006
No. 55, 2006
An Act to amend the law relating to taxation, and for related purposes
[Assented to 19 June 2006]
The Parliament of Australia enacts:
1 Short title
This Act may be cited as the Tax Laws Amendment (Personal Tax Reduction and Improved Depreciation Arrangements) Act 2006.
2 Commencement
(1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Commencement information Column 1 Column 2 Column 3 Provision(s) Commencement Date/Details 1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table The day on which this Act receives the Royal Assent. 19 June 2006 2. Schedule 1 1 July 2006. 1 July 2006 3. Schedule 2 The day on which this Act receives the Royal Assent. 19 June 2006 4. Schedules 3 and 4 1 July 2006. 1 July 2006 5. Schedule 5 The day on which this Act receives the Royal Assent. 19 June 2006
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