Tax Laws Amendment (2007 Budget Measures) Act 2007 (Cth)

Tax Laws Amendment (2007 Budget Measures) Act 2007

No. 75, 2007

An Act to amend the law relating to taxation, and for related purposes

Contents 1 Short title 2 Commencement 3 Schedule(s)

Schedule 1—Budget taxation measures

Part 1—Dependent spouse tax offset Income Tax Assessment Act 1936

Part 2—Medicare levy and Medicare levy surcharge A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Act 1999 Medicare Levy Act 1986

Tax Laws Amendment (2007 Budget Measures) Act 2007

No. 75, 2007

An Act to amend the law relating to taxation, and for related purposes

[Assented to 21 June 2007]

The Parliament of Australia enacts:

1 Short title

This Act may be cited as the Tax Laws Amendment (2007 Budget Measures) Act 2007.

2 Commencement

This Act commences on the day on which it receives the Royal Assent.

3 Schedule(s)

Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1—Budget taxation measures

Part 1—Dependent spouse tax offset

Income Tax Assessment Act 1936

1 Sub‑subparagraph 23AB(7)(a)(ii)(D) Omit all the words after "159J(2)", substitute "(ignoring subsections 159J(1AA), (3AA) and (3AB)) if subsection 159J(1B) also included a reference to any dependant included in class 1 of that table and the amount applicable to class 1 of that table were $2,440".

2 Subsection 79A(4) (paragraph (d) of the definition of relevant rebate amount) Omit all the words after "159J(2)", substitute "(ignoring subsections 159J(1AA), (3AA) and (3AB)) if subsection 159J(1B) also included a reference to any dependant included in class 1 of that table and the amount applicable to class 1 of that table were $2,440".

3 Subsection 79B(6) (paragraph (d) of the definition of concessional rebate amount) Omit all the words after "159J(2)", substitute "(ignoring subsections 159J(1AA), (3AA) and (3AB)) if subsection 159J(1B) also included a reference to any dependant included in class 1 of that table and the amount applicable to class 1 of that table were $2,440".