Explanatory Memorandum
(Circulated by authority of the Minister for Vocational and Further Education the Honourable Andrew Robb AO MP)NOTES ON CLAUSES
Clause 1 - Short title
Provides for the Act to be cited as the Social Security Amendment (Apprenticeship Wage Top-Up For Australian Apprentices) Act 2007 .
Clause 2 - Commencement
Subclause 2(1) inserts a three column table setting out commencement information for various provisions in the Act. Each provision of the Act specified in column 1 of the table commences (or is taken to have commenced) in accordance with column 2 of the table and any other statement in column 2 has effect according to its terms.
The table has the effect of providing for Schedule 1 to commence on 1 July 2007 and for sections 1-3 of the Act to commence on Royal Assent.
Subclause 2(2) provides that column 3 of the table is for additional information which may be added to or edited in any published version of the Act but that information in this column is not part of the Act.
Clause 3 - Schedule(s )
Provides that each Act that is specified in a Schedule is amended or repealed as set out in the applicable items in the Schedule and that any other item in a Schedule has effect according to its terms.
Schedule 1 - Apprenticeship Wage Top-Up
Income Tax Assessment Act 1997
Item 1 Section 11-15 (table item headed " education ")
Amends the "education" entry in the table in section 11-15, to add the recipient of an Apprenticeship Wage Top-Up payment to the list of classes of exempt income to reflect the amendment made by item 2.
Item 2 Section 51-10 (at the end of the table )
Inserts a new item 2.4 in the table to section 51-10, which has the effect of adding Apprenticeship Wage Top-Up payments to the list of education and training amounts exempt from income tax.
Item 3 Application of amendments
Provides that the amendments made by items 1 and 2 apply to assessments for the 2007-08 income year and later income years.
Social Security Act 1991
Item 4 After paragraph 8(8 )( t )
Inserts a new paragraph 8(8)(t) to exempt the amount of an Apprenticeship Wage Top-Up payment from the definition of income under the Act.
Veterans' Entitlements Act 1986
Item 5 After paragraph 5H(8 )( x )
Inserts a new paragraph 5H(8)(xaa) to exempt the amount of an Apprenticeship Wage Top-Up payment from the definition of income under the Act.
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