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This is a Bill, not an Act. For current law, see the Acts databases.
TAX LAWS AMENDMENT (MEDICARE LEVY AND MEDICARE LEVY SURCHARGE) BILL 2011
2010-2011
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Tax Laws Amendment (Medicare Levy
and Medicare Levy Surcharge) Bill 2011
No. , 2011
(Treasury)
A Bill for an Act to amend the law relating to
taxation, and for related purposes
i Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2011 No. ,
2011
Contents
1 Short
title
...........................................................................................
1
2 Commencement
.................................................................................
1
3 Schedule(s)
........................................................................................
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
Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2011 No. , 2011
1
A Bill for an Act to amend the law relating to
1
taxation, and for related purposes
2
The Parliament of Australia enacts:
3
1 Short title
4
This Act may be cited as the Tax Laws Amendment (Medicare Levy
5
and Medicare Levy Surcharge) Act 2011.
6
2 Commencement
7
This Act commences on the day this Act receives the Royal
8
Assent.
9
2 Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2011 No.
, 2011
3 Schedule(s)
1
Each Act 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repealed as set out in the applicable items in the Schedule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
4
according to its terms.
5
6
Medicare levy and Medicare levy surcharge income thresholds Schedule 1
Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2011 No. , 2011
3
Schedule 1--Medicare levy and Medicare levy
1
surcharge income thresholds
2
3
A New Tax System (Medicare Levy Surcharge--Fringe
4
Benefits) Act 1999
5
1 Paragraphs 15(1)(c) and 16(2)(c)
6
Omit "$18,488", substitute "$18,839".
7
Medicare Levy Act 1986
8
2 Subsection 3(1) (paragraph (b) of the definition of phase-in
9
limit)
10
Omit "$32,584", substitute "$35,810".
11
3 Subsection 3(1) (paragraph (c) of the definition of phase-in
12
limit)
13
Omit "$21,750", substitute "$22,163".
14
4 Subsection 3(1) (paragraph (b) of the definition of threshold
15
amount)
16
Omit "$27,697", substitute "$30,439".
17
5 Subsection 3(1) (paragraph (c) of the definition of threshold
18
amount)
19
Omit "$18,488", substitute "$18,839".
20
6 Subsection 8(5) (definition of family income threshold)
21
Omit "$31,196", substitute "$31,789".
22
7 Subsection 8(5) (definition of family income threshold)
23
Omit "$2,865", substitute "$2,919".
24
8 Subsections 8(6) and (7)
25
Omit "$31,196", substitute "$31,789".
26
Schedule 1 Medicare levy and Medicare levy surcharge income thresholds
4 Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2011 No.
, 2011
9 Paragraph 8D(3)(c)
1
Omit "$18,488", substitute "$18,839".
2
10 Subparagraph 8D(4)(a)(ii)
3
Omit "$18,488", substitute "$18,839".
4
11 Paragraph 8G(2)(c)
5
Omit "$18,488", substitute "$18,839".
6
12 Subparagraph 8G(3)(a)(ii)
7
Omit "$18,488", substitute "$18,839".
8
13 Application of amendments
9
The amendments made by this Schedule apply to assessments for the
10
2010-11 year of income and later years of income.
11