Explanatory Memorandum
(Circulated by the authority of the Deputy Prime Minister and Treasurer, the Hon Wayne Swan MP)General outline and financial impact
Medicare levy low-income threshold for families
This Bill amends the Medicare Levy Act 1986 to increase the Medicare levy low-income threshold for families and the dependent child-student component of the threshold.
Date of effect: This measure applies to the 2012-13 income year and later income years.
Proposal announced: This measure was announced in the 2013-14 Budget on 14 May 2013.
Financial impact: This measure has the following revenue implications:
| 2013-14 | 2014-15 | 2015-16 | 2016-17 |
| -$16m | -$8m | -$7m | -$7m |
Human rights implications: This Bill is compatible with human rights. See Statement of Compatibility with Human Rights - Chapter 1, paragraphs 1.15 to 1.19.
Compliance cost impact: Nil.