House of Representatives

Taxation Laws Amendment Bill (No. 2) 1988

Taxation Laws Amendment Act (No. 2) 1988

Supplementary Explanatory Memorandum

(Circulated by authority of the Treasurer, the Hon. P.J. Keating, M.P.)

GENERAL OUTLINE

The amendment will insert a new clause into the Bill. New clause 55A proposes to modify the operation of the Income Tax Assessment Act 1936 ("the Assessment Act") to increase the level of the pensioner rebate for the 1987-88 year of income from $250 to $308 for service pensioners.

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