Tax Laws Amendment (2004 Measures No. 7) Act 2005 (41 of 2005)

Schedule 10   Technical corrections and amendments

Part 1   Technical corrections and amendments commencing on Royal Assent

Income Tax Assessment Act 1936

29   Section 159S (definition of tax threshold )

Repeal the definition, substitute:

tax threshold means:

(a) the lower of the amounts specified in item 1 of the table in Part I of Schedule 7 to the Income Tax Rates Act 1986; or

(b) if, because of section 20 of the Income Tax Rates Act 1986, that Act applies to the taxpayer as if the reference in the table in Part I of Schedule 7 to that Act to the amount referred to in paragraph (a) were a reference to a different amount - that different amount.