Treasury Laws Amendment (Income Tax Relief) Bill 2016

The majority voted to support the main idea of the bill. In parliamentary jargon, they voted to give the bill a second reading.

Main idea of the bill

This bill will lower taxes for people earning over $80,000.

The bills digest explains that the bill's purpose is:

to increase from $80,000 to $87,000 the threshold at which an individual’s marginal tax rate increases from 32.5 per cent to 37 per cent. The changes apply to both resident and non-resident individual tax payers, with effect from 1 July 2016.