Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Act 2010
(78 of 2010)
An Act to amend the law relating to taxation, and for related purposes
[Assented to 29 June 2010]
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 2010.
2 Commencement
This Act commences on the day this Act 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Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.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 "$17,794", substitute "$18,488".
Medicare Levy Act 1986
2 Subsection 3(1) (paragraph (b) of the definition of phase-in limit)
Omit "$29,763", substitute "$32,584".
3 Subsection 3(1) (paragraph (c) of the definition of phase-in limit)
Omit "$20,934", substitute "$21,750".
4 Subsection 3(1) (paragraph (b) of the definition of threshold amount)
Omit "$25,299", substitute "$27,697".
5 Subsection 3(1) (paragraph (c) of the definition of threshold amount)
Omit "$17,794", substitute "$18,488".
6 Subsection 8(5) (definition of family income threshold)
Omit "$30,025", substitute "$31,196".
7 Subsection 8(5) (definition of family income threshold)
Omit "$2,757", substitute "$2,865".
8 Subsections 8(6) and (7)
Omit "$30,025", substitute "$31,196".
9 Paragraph 8D(3)(c)
Omit "$17,794", substitute "$18,488".
10 Subparagraph 8D(4)(a)(ii)
Omit "$17,794", substitute "$18,488".
11 Paragraph 8G(2)(c)
Omit "$17,794", substitute "$18,488".
12 Subparagraph 8G(3)(a)(ii)
Omit "$17,794", substitute "$18,488".
13 Application of amendments
The amendments made by this Schedule apply to assessments for the 2009-10 year of income and later years of income.