###Taxation (Budget Measures) Bill

Author: /uWalter\_Heisenberg2 , u/Winston_Wilhelmus4

#### 1Title

This Act is the Taxation (Budget Measures) Act 2020.

#### 2 Commencement

This Act comes into force as soon as it receives royal assent

### Part 1 Amendments to the Income Tax Act 2007

### 3 Income Tax Act 2007

This Part amends the Income Tax Act 2007.

#### 4 Schedule 1 amended (Basic income tax rates)

In Schedule 1 Table 1 is replaced with the following

|  Range of dollar in taxable income | tax rate|
|------------------------------------|---------|
|  $0  - $14,000               | 0       |
|  $14,001  - $48,000     | 0 .14 |
|  $48,001  - $70,000     | 0 .22 |
|  $70,001 and upwards | 0 .28 |

#### 5 Schedule 2 amended (Taxable income Companies)

Replace “0.22” with “0.18”

### Part 2 Repeal of the Carbon Tax Act 2017

### 6 Carbon Tax Act 2017 Repeal

Carbon Tax Act 2017 is repealed

Part 3 Repeal of the  Land Transport Management (Regional Fuel Tax) Amendment Act 2020

### 7 Land Transport Management (Regional Fuel Tax) Amendment Act 2020

Land Transport Management (Regional Fuel Tax) Amendment Act 2020 is repealed

Part 4

Amendments to the Customs and Excise Act 1996

### 8Repeal of Excises and Duties

In the Customs and Excise Tax Act 1996, repeal Part 7.

Part 5

Amendments to the Land Transport Management Act 2003

#### 9Land Transport Management Act 2003 amended

This Part amends the Land Transport Management Act 2003.

#### 10Section 5(1) amended

In Section 5(1), omit the interpretation of excise duty and excise-equivalent duty.

#### 11 Section 6 amended

In Section 6, repeal subsection (b).

#### 12Section 9 amended

(1) Replace Section 9(1) with:

(1)  In accordance with any regulations made under section 109(b)(i), the Crown may, without further appropriation than this subsection, incur expenses or capital expenditure in a financial year up to an amount agreed by the responsible Minister and the Minister of Finance that is not more than the goods and services tax charged to users of pleasure craft (within the meaning of section 2(1) of the Maritime Transport Act 1994) in that financial year, for the following activities and services:

(a) search and rescue activities, whether in relation to pleasure craft or otherwise; and

(b) recreational boating safety and safety awareness; and

(c) maritime safety services that benefit the users of pleasure craft; and

(d) administration by the Secretary in relation to the activities and services described in paragraphs (a) to (c).

(2) Repeal Subsection (2)(b)(i)(A)

 13 Section 41 amended

(1) Omit Subsection (1).

(2) Replace Subsection (4) with the following:

(4) No such refund of goods and services tax may be allowed unless application is made for that refund in accordance with section 42.

(3) Replace Subsection (5) with the following:

(5) If the amount of any refund of goods and services tax provided for in regulations made under section 45 is increased, reduced, or varied by any Act or by any regulations, refunds of tax paid, whether before or after the coming into force of that increase, reduction, or variation, in satisfaction of a liability for that tax incurred before that date may be applied for and made as if the increase, reduction, or variation were not in force.