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TAX AND SUPERANNUATION LAWS AMENDMENT (MEDICARE LEVY AND MEDICARE LEVY SURCHARGE) BILL 2015

 

 

 

2013-2014-2015 

 

The Parliament of the 

Commonwealth of Australia 

 

HOUSE OF REPRESENTATIVES 

 

 

 

 

Presented and read a first time 

 

 

 

 

Tax and Superannuation Laws 

Amendment (Medicare Levy and 

Medicare Levy Surcharge) Bill 2015 

 

No.      , 2015 

 

(Treasury) 

 

 

 

A Bill for an Act to amend the law relating to 

taxation, and for related purposes 

   

   

 

 

No.      , 2015 

Tax and Superannuation Laws Amendment (Medicare Levy and 

Medicare Levy Surcharge) Bill 2015 

i 

 

Contents 

Short title ........................................................................................... 1

 

Commencement ................................................................................. 1

 

Schedules ........................................................................................... 2

 

Schedule 1--Medicare levy and Medicare levy surcharge 

income thresholds

 

3

 

A New Tax System (Medicare Levy Surcharge--Fringe Benefits) Act 

1999

 

3

 

Medicare Levy Act 1986

 

3

 

 

 

 

 

No.      , 2015 

Tax and Superannuation Laws Amendment (Medicare Levy and 

Medicare Levy Surcharge) Bill 2015 

1 

 

A Bill for an Act to amend the law relating to 

taxation, and for related purposes 

The Parliament of Australia enacts: 

1  Short title 

 

  This Act may be cited as the Tax and Superannuation Laws 

Amendment (Medicare Levy and Medicare Levy Surcharge) Act 

2015

2  Commencement 

 

  This Act commences on the day this Act receives the Royal 

Assent. 

10 

   

   

 

 

2 

Tax and Superannuation Laws Amendment (Medicare Levy and 

Medicare Levy Surcharge) Bill 2015 

No.      , 2015 

 

3  Schedules 

 

  Legislation that is specified in a Schedule to this Act is amended or 

repealed as set out in the applicable items in the Schedule 

concerned, and any other item in a Schedule to this Act has effect 

according to its terms. 

Medicare levy and Medicare levy surcharge income thresholds  Schedule 1 

   

 

 

No.      , 2015 

Tax and Superannuation Laws Amendment (Medicare Levy and 

Medicare Levy Surcharge) Bill 2015 

3 

 

Schedule 1

--Medicare levy and Medicare levy 

surcharge income thresholds 

   

A New Tax System (Medicare Levy Surcharge--Fringe 

Benefits) Act 1999 

1  Paragraphs 15(1)(c) and 16(2)(c) 

Omit "$20,542", substitute "$20,896". 

Medicare Levy Act 1986 

2  Subsection 3(1) (paragraph (a) of the definition of phase-in 

limit

10 

Omit "$37,975", substitute "$41,305". 

11 

3  Subsection 3(1) (paragraph (c) of the definition of phase-in 

12 

limit

13 

Omit "$24,167", substitute "$26,120". 

14 

4  Subsection 3(1) (paragraph (a) of the definition of threshold 

15 

amount

16 

Omit "$32,279", substitute "$33,044". 

17 

5  Subsection 3(1) (paragraph (c) of the definition of threshold 

18 

amount

19 

Omit "$20,542", substitute "$20,896". 

20 

6  Subsection 8(5) (definition of family income threshold

21 

Omit "$34,367", substitute "$35,261". 

22 

7  Subsection 8(5) (definition of family income threshold

23 

Omit "$3,156", substitute "$3,238". 

24 

8  Subsections 8(6) and (7) 

25 

Omit "$34,367", substitute "$35,261". 

26 

Schedule 1  Medicare levy and Medicare levy surcharge income thresholds 

   

 

 

4 

Tax and Superannuation Laws Amendment (Medicare Levy and 

Medicare Levy Surcharge) Bill 2015 

No.      , 2015 

 

9  Paragraph 8D(3)(c) 

Omit "$20,542", substitute "$20,896". 

10  Subparagraph 8D(4)(a)(ii) 

Omit "$20,542", substitute "$20,896". 

11  Paragraph 8G(2)(c) 

Omit "$20,542", substitute "$20,896". 

12  Subparagraph 8G(3)(a)(ii) 

Omit "$20,542", substitute "$20,896". 

13  Application of amendments 

The amendments made by this Schedule apply to assessments for the 

10 

2014-15 year of income and later years of income. 

11 

 


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