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This is a Bill, not an Act. For current law, see the Acts databases.
Presented and read a first time
Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2006
No. , 2006
(Treasury)
A Bill for an Act to amend the law relating to taxation, and for related purposes
Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2006 No. , 2006
Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2006 No. , 2006
Contents
1 Short title 1
2 Commencement 1
3 Schedule(s) 1
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
Schedule 1 Medicare levy and Medicare levy surcharge income thresholds
Medicare levy and Medicare levy surcharge income thresholds Schedule 1
Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2006 No. , 2006
Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2006 No. , 2006
Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2006 No. , 2006
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 Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Act 2006.
2 Commencement
This Act commences on the day on which it receives the Royal Assent.
3 Schedule(s)
Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.
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 "$15,902", substitute "$16,284".
Medicare Levy Act 1986
2 Subsection 3(1) (paragraph (b) of the definition of phase-in limit)
Omit "$20,812", substitute "$21,170".
3 Subsection 3(1) (paragraph (c) of the definition of phase-in limit)
Omit "$17,191", substitute "$17,604".
4 Subsection 3(1) (paragraph (b) of the definition of threshold amount)
Omit "$19,252", substitute "$19,583".
5 Subsection 3(1) (paragraph (c) of the definition of threshold amount)
Omit "$15,902", substitute "$16,284".
6 Subsection 8(5) (definition of family income threshold)
Omit "$26,834", substitute "$27,478".
7 Subsection 8(5) (definition of family income threshold)
Omit "$2,464", substitute "$2,523".
8 Subsections 8(6) and (7)
Omit "$26,834", substitute "$27,478".
9 Paragraph 8D(3)(c)
Omit "$15,902", substitute "$16,284".
10 Subparagraph 8D(4)(a)(ii)
Omit "$15,902", substitute "$16,284".
11 Paragraph 8G(2)(c)
Omit "$15,902", substitute "$16,284".
12 Subparagraph 8G(3)(a)(ii)
Omit "$15,902", substitute "$16,284".
13 Application of amendments
The amendments made by this Schedule apply to assessments for the 2005-2006 year of income and later years of income.
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