Income Tax Rates Amendment (Family Tax Initiative) Act 1996

Division 5 — Family tax assistance: increased tax-free threshold for certain taxpayers with dependent children

20A Object of Division

This Division provides for family tax assistance by way of an increased tax-free threshold for certain taxpayers with dependent children.

20B Definitions

In this Division:

dependant has the meaning given by section 20K.

family income ceiling has the meaning given by section 20Q.

lowest marginal rate of tax means the lowest percentage set out in column 2 of the table in clause 1 of Part 1 of Schedule 7.

relevant part of the 1996-97 year of income means the part of that year of income occurring after the commencement of this Division.

relevant period means:

(a) the relevant part of the 1996-97 year of income; or

(b) the year of income 1997-98; or

(c) a later year of income.

spouse, in relation to a taxpayer, does not include a person who lives separately and apart from the taxpayer on a permanent basis.

taxable income, in relation to a beneficiary of a trust estate, includes (except in section 20J) any amount that would have been included in the beneficiary’s assessable income under section 100 of the Assessment Act if paragraph 100(1)(b), and the words “or of each of the trust estates” in paragraphs 100(1)(c) and (d), of that Act were omitted.

taxpayer’s income ceiling has the meaning given by section 20R.

20C Increase in tax-free threshold