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1999-2000 Mid-Year Economic and Fiscal Outlook
November 24, 1999
Appointment to the Financial Sector Advisory Council
November 30, 1999
1999-2000 Mid-Year Economic and Fiscal Outlook
November 24, 1999
Appointment to the Financial Sector Advisory Council
November 30, 1999

Defence – East Timor Levy

NO.081

Defence – East Timor Levy

As I announced on 23 November, the temporary Defence – East Timor Levy will apply at a

rate of 0.5 per cent on total taxable incomes above $50,000 per annum and one per cent on

total taxable incomes above $100,000 per annum. The levy will apply for 12 months only,

commencing from 1 July 2000.

Taxable income does not include reportable fringe benefits. This will mean that a

taxpayer with a taxable income below $50,000 will not be subject to the levy, regardless

of whether or not they are receiving reportable fringe benefits. It is not Government

policy to include reportable fringe benefits in the calculation of taxable income for

purposes of the Defence – East Timor Levy. Reportable fringe benefits are not included for

the purposes of calculating the Medicare levy and would therefore not cover this temporary

increase.

The Government considers that the arrangements for the levy as announced are fair.

 

CANBERRA

25 November 1999