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This is a Bill, not an Act. For current law, see the Acts databases.
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
1
Short title ........................................................................................... 1
2
Commencement ................................................................................. 1
3
Schedules ........................................................................................... 2
Schedule 1--Medicare levy and Medicare levy surcharge
income thresholds
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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
1
taxation, and for related purposes
2
The Parliament of Australia enacts:
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1 Short title
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This Act may be cited as the Tax and Superannuation Laws
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Amendment (Medicare Levy and Medicare Levy Surcharge) Act
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2015.
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2 Commencement
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This Act commences on the day this Act receives the Royal
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Assent.
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2
Tax and Superannuation Laws Amendment (Medicare Levy and
Medicare Levy Surcharge) Bill 2015
No. , 2015
3 Schedules
1
Legislation that is specified in a Schedule to this Act is amended or
2
repealed as set out in the applicable items in the Schedule
3
concerned, and any other item in a Schedule to this Act has effect
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according to its terms.
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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
1
surcharge income thresholds
2
3
A New Tax System (Medicare Levy Surcharge--Fringe
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Benefits) Act 1999
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1 Paragraphs 15(1)(c) and 16(2)(c)
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Omit "$20,542", substitute "$20,896".
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Medicare Levy Act 1986
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2 Subsection 3(1) (paragraph (a) of the definition of phase-in
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limit)
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Omit "$37,975", substitute "$41,305".
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3 Subsection 3(1) (paragraph (c) of the definition of phase-in
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limit)
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Omit "$24,167", substitute "$26,120".
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4 Subsection 3(1) (paragraph (a) of the definition of threshold
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amount)
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Omit "$32,279", substitute "$33,044".
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5 Subsection 3(1) (paragraph (c) of the definition of threshold
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amount)
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Omit "$20,542", substitute "$20,896".
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6 Subsection 8(5) (definition of family income threshold)
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Omit "$34,367", substitute "$35,261".
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7 Subsection 8(5) (definition of family income threshold)
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Omit "$3,156", substitute "$3,238".
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8 Subsections 8(6) and (7)
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Omit "$34,367", substitute "$35,261".
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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)
1
Omit "$20,542", substitute "$20,896".
2
10 Subparagraph 8D(4)(a)(ii)
3
Omit "$20,542", substitute "$20,896".
4
11 Paragraph 8G(2)(c)
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Omit "$20,542", substitute "$20,896".
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12 Subparagraph 8G(3)(a)(ii)
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Omit "$20,542", substitute "$20,896".
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13 Application of amendments
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The amendments made by this Schedule apply to assessments for the
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2014-15 year of income and later years of income.
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