Issued
2007

Notice - Income Tax Act 2007

Notice of the Income Tax Act 2007 which received Royal assent on 1 Nov 2007 and will apply to income derived from the 2008-09 income year.

The Income Tax Act 2007 passed through its final stages late October, receiving Royal assent on 1 November 2007. The new Act contains the rewritten Income Tax Act from Part F to the end of the Act, including Schedules. It also enacts and consolidates Parts A to E and renumbers various sections contained in those Parts. The resulting Income Tax Act 2007 will apply to income derived from the 2008-09 income year. An article outlining the main features of the Act will be published here early in 2008.