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This is a Bill, not an Act. For current law, see the Acts databases.

FAIRER PRIVATE HEALTH INSURANCE INCENTIVES (MEDICARE LEVY SURCHARGE-FRINGE BENEFITS) BILL 2012

2010-2011
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Fairer Private Health Insurance
Incentives (Medicare Levy Surcharge--
Fringe Benefits) Bill 2011
No. , 2011
(Treasury)
A Bill for an Act to amend the A New Tax System
(Medicare Levy Surcharge--Fringe Benefits) Act
1999, and for related purposes
i Fairer Private Health Insurance Incentives (Medicare Levy Surcharge--Fringe Benefits)
Bill 2011 No. , 2011
Contents
1 Short
title
...........................................................................................
1
2 Commencement
.................................................................................
1
3 Schedule(s)
........................................................................................
2
Schedule 1--Amendments
3
A New Tax System (Medicare Levy Surcharge--Fringe Benefits) Act
1999
3
Fairer Private Health Insurance Incentives (Medicare Levy Surcharge--Fringe Benefits) Bill
2011 No. , 2011 1
A Bill for an Act to amend the A New Tax System
1
(Medicare Levy Surcharge--Fringe Benefits) Act
2
1999, and for related purposes
3
The Parliament of Australia enacts:
4
1 Short title
5
This Act may be cited as the Fairer Private Health Insurance
6
Incentives (Medicare Levy Surcharge--Fringe Benefits) Act 2011.
7
2 Commencement
8
(1) Each provision of this Act specified in column 1 of the table
9
commences, or is taken to have commenced, in accordance with
10
column 2 of the table. Any other statement in column 2 has effect
11
according to its terms.
12
13
2 Fairer Private Health Insurance Incentives (Medicare Levy Surcharge--Fringe Benefits)
Bill 2011 No. , 2011
Commencement information
Column 1
Column 2
Column 3
Provision(s)
Commencement
Date/Details
1. Sections 1 to 3
and anything in
this Act not
elsewhere covered
by this table
The day this Act receives the Royal Assent.
2. Schedule 1
At the same time as Schedule 1 to the Fairer
Private Health Insurance Incentives Act
2011 commences.
Note:
This table relates only to the provisions of this Act as originally
1
enacted. It will not be amended to deal with any later amendments of
2
this Act.
3
(2) Any information in column 3 of the table is not part of this Act.
4
Information may be inserted in this column, or information in it
5
may be edited, in any published version of this Act.
6
3 Schedule(s)
7
Each Act that is specified in a Schedule to this Act is amended or
8
repealed as set out in the applicable items in the Schedule
9
concerned, and any other item in a Schedule to this Act has effect
10
according to its terms.
11
12
Amendments Schedule 1
Fairer Private Health Insurance Incentives (Medicare Levy Surcharge--Fringe Benefits) Bill
2011 No. , 2011 3
Schedule 1--Amendments
1
2
A New Tax System (Medicare Levy Surcharge--Fringe
3
Benefits) Act 1999
4
1 Subsection 3(1) (definition of family surcharge threshold)
5
Repeal the definition.
6
2 Subsection 3(1)
7
Insert:
8
family tier 1 threshold, of a person for a year of income, means the
9
family tier 1 threshold (within the meaning of the Private Health
10
Insurance Act 2007) of the person for the financial year
11
corresponding to the year of income.
12
3 Subsection 3(1) (definition of singles surcharge threshold)
13
Repeal the definition.
14
4 Subsection 3(1)
15
Insert:
16
singles tier 1 threshold, of a person for a year of income, means
17
the singles tier 1 threshold (within the meaning of the Private
18
Health Insurance Act 2007) of the person for the financial year
19
corresponding to the year of income.
20
5 Subsection 3(1)
21
Insert:
22
tier 2 earner has the meaning given by section 6.
23
6 Subsection 3(1)
24
Insert:
25
tier 3 earner has the meaning given by section 6.
26
7 Sections 5A and 6
27
Repeal the sections, substitute:
28
Schedule 1 Amendments
4 Fairer Private Health Insurance Incentives (Medicare Levy Surcharge--Fringe Benefits)
Bill 2011 No. , 2011
6 What is a tier 2 earner and tier 3 earner
1
(1) Subject to this section, for the purposes of this Act:
2
(a) tier 2 earner, for a year of income, means a tier 2 earner
3
(within the meaning of the Private Health Insurance Act
4
2007) for the financial year corresponding to the year of
5
income; and
6
(b) tier 3 earner, for a year of income, means a tier 3 earner
7
(within the meaning of that Act) for the financial year
8
corresponding to the year of income.
9
(2) In determining whether a person is a tier 2 earner or tier 3 earner
10
for a year of income for the purposes of this Act, section 22-30 of
11
the Private Health Insurance Act 2007 operates with the
12
modification set out in subsection (3).
13
(3) Replace paragraph 22-30(1)(b) of the Private Health Insurance Act
14
2007 with the following paragraph:
15
(b) on any day in the year, the person has one or more
16
dependants (within the meaning of the A New Tax System
17
(Medicare Levy Surcharge--Fringe Benefits) Act 1999),
18
other than a dependant to whom the person is married (within
19
the meaning of that Act):
20
8 Paragraph 12(1)(a)
21
Omit "the singles surcharge threshold", substitute "the person's singles
22
tier 1 threshold".
23
9 At the end of section 12
24
Add:
25
(4) Increase the amount of each percentage mentioned in
26
subsections (2) and (3) by 0.25 of a percentage point if the person
27
is a tier 2 earner for the year of income.
28
(5) Increase the amount of each percentage mentioned in
29
subsections (2) and (3) by 0.5 of a percentage point if the person is
30
a tier 3 earner for the year of income.
31
10 Paragraph 13(1)(a)
32
Omit "family surcharge threshold", substitute "family tier 1 threshold".
33
Amendments Schedule 1
Fairer Private Health Insurance Incentives (Medicare Levy Surcharge--Fringe Benefits) Bill
2011 No. , 2011 5
11 At the end of section 13
1
Add:
2
(5) Increase the amount of each percentage mentioned in
3
subsections (3) and (4) by 0.25 of a percentage point if the person
4
is a tier 2 earner for the year of income.
5
(6) Increase the amount of each percentage mentioned in
6
subsections (3) and (4) by 0.5 of a percentage point if the person is
7
a tier 3 earner for the year of income.
8
12 Paragraph 15(1)(b)
9
Omit "family surcharge threshold", substitute "family tier 1 threshold".
10
13 At the end of section 15
11
Add:
12
(3) Increase the amount of the percentage mentioned in subsection (1)
13
by 0.25 of a percentage point if the person is a tier 2 earner for the
14
year of income.
15
(4) Increase the amount of the percentage mentioned in subsection (1)
16
by 0.5 of a percentage point if the person is a tier 3 earner for the
17
year of income.
18
14 Paragraph 16(2)(b)
19
Omit "family surcharge threshold", substitute "family tier 1 threshold".
20
15 Paragraph 16(3)(b)
21
Omit "family surcharge threshold", substitute "family tier 1 threshold".
22
16 After subsection 16(4)
23
Insert:
24
(4A) Increase the amount of the percentage mentioned in subsection (4)
25
by 0.25 of a percentage point if the person is a tier 2 earner for the
26
year of income.
27
(4B) Increase the amount of the percentage mentioned in subsection (4)
28
by 0.5 of a percentage point if the person is a tier 3 earner for the
29
year of income.
30
Schedule 1 Amendments
6 Fairer Private Health Insurance Incentives (Medicare Levy Surcharge--Fringe Benefits)
Bill 2011 No. , 2011
17 Application
1
The amendments made by this Schedule apply to the 2011-12 year of
2
income and later years of income.
3
18 Transitional--2011-12 year of income
4
(1)
Subitem (2) applies to the amount of surcharge payable by a person on
5
the person's reportable fringe benefits total for the 2011-12 year of
6
income.
7
(2)
The amount of surcharge worked out under the A New Tax System
8
(Medicare Levy Surcharge--Fringe Benefits) Act 1999 is treated as
9
being the total of:
10
(a) the amount of surcharge that would be payable under that Act
11
if:
12
(i) the amendments made by this Schedule did not apply to
13
the year of income; and
14
(ii) Divisions 2, 3 and 4 of Part 3 of that Act were treated as
15
not applying to the person for any day after
16
31 December 2011; and
17
(b) the amount of surcharge that would be payable under that
18
Act, as amended by this Schedule, if Divisions 2, 3 and 4 of
19
Part 3 of that Act were treated as not applying to the person
20
for any day before 1 January 2012.
21

 

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