Income Tax (Aged Persons) Act 1967 (Cth)

Income Tax (Aged Persons)

No. 13 of 1967

An Act to amend section 8 of the Income Tax Act 1966 and section 7 of the Income Tax (Partnerships and Trusts) Act 1966.

[Assented to 26 April 1967]

BE it enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title and citation.

1.—(1.) This Act may be cited as the Income Tax (Aged Persons) Act 1967.

(2.) The Income Tax Act 1966, as amended by this Act, may be cited as the Income Tax Act 1966–1967.

 

(3.) The Income Tax (Partnerships and Trusts) Act 1966, as amended by this Act, may be cited as the Income Tax (Partnerships and Trusts) Act 1966–1967.

Commencement.

2.This Act shall come into operation on the day on which it receives the Royal Assent.

Limitation of tax payable by aged persons.

3. Section 8 of the Income Tax Act 1966 is amended—

(a)by omitting from sub-section (2.) the words “One thousand two hundred and twenty-one dollars” and inserting in their stead the words “One thousand two hundred and sixty-four dollars”;

(b)by omitting from sub-section (2.) the words “One thousand and forty dollars” (wherever occurring) and inserting in their stead the words “One thousand and seventy dollars”;

(c)by omitting from sub-section (3.) the words “Two thousand eight hundred and eighty-two dollars” and inserting in their stead the words “Two thousand nine hundred and fifty-eight dollars”; and

(d)by omitting from sub-section (3.) the words “One thousand nine hundred and fifty dollars” (wherever occurring) and inserting in their stead the words “One thousand nine hundred and eighty dollars”.

Further tax under section 94 of Assessment Act not payable by certain aged persons.

4.Section 7 of the Income Tax (Partnerships and Trusts) Act 1966 is amended—

(a)by omitting from sub-section (2.) the words “One thousand two hundred and twenty-one dollars” and inserting in their stead the words “One thousand two hundred and sixty-four dollars”; and

(b)