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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 2008
No. , 2008
(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 2008 No. , 2008
Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2008 No. , 2008
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
Medicare levy and Medicare levy surcharge income thresholds Schedule 1
Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2008 No. , 2008
Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2008 No. , 2008
Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2008 No. , 2008
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 2008.
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Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.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 "$16,740", substitute "$17,309".
Medicare Levy Act 1986
2 Subsection 3(1) (paragraph (b) of the definition of phase-in limit)
Omit "$25,455", substitute "$26,967".
3 Subsection 3(1) (paragraph (c) of the definition of phase-in limit)
Omit "$19,694", substitute "$20,363".
4 Subsection 3(1) (paragraph (b) of the definition of threshold amount)
Omit "$21,637", substitute "$22,922".
5 Subsection 3(1) (paragraph (c) of the definition of threshold amount)
Omit "$16,740", substitute "$17,309".
6 Subsection 8(5) (definition of family income threshold)
Omit "$28,247", substitute "$29,207".
7 Subsection 8(5) (definition of family income threshold)
Omit "$2,594", substitute "$2,682".
8 Subsections 8(6) and (7)
Omit "$28,247", substitute "$29,207".
9 Paragraph 8D(3)(c)
Omit "$16,740", substitute "$17,309".
10 Subparagraph 8D(4)(a)(ii)
Omit "$16,740", substitute "$17,309".
11 Paragraph 8G(2)(c)
Omit "$16,740", substitute "$17,309".
12 Subparagraph 8G(3)(a)(ii)
Omit "$16,740", substitute "$17,309".
13 Application of amendments
The amendments made by this Schedule apply to assessments for the 2007-08 year of income and later years of income.
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