Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Act 2011

(44 of 2011)

An Act to amend the law relating to taxation, and for related purposes

[Assented to 27 June 2011]

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 2011.

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Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.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  

A New Tax System (Medicare Levy Surcharge - Fringe Benefits) Act 1999

1   Paragraphs 15(1)(c) and 16(2)(c)

Omit “$18,488”, substitute “$18,839”.

Medicare Levy Act 1986

2   Subsection 3(1) (paragraph (b) of the definition of phase-in limit )

Omit “$32,584”, substitute “$35,810”.

3   Subsection 3(1) (paragraph (c) of the definition of phase-in limit )

Omit “$21,750”, substitute “$22,163”.

4   Subsection 3(1) (paragraph (b) of the definition of threshold amount )

Omit “$27,697”, substitute “$30,439”.

5   Subsection 3(1) (paragraph (c) of the definition of threshold amount )

Omit “$18,488”, substitute “$18,839”.

6   Subsection 8(5) (definition of family income threshold )

Omit “$31,196”, substitute “$31,789”.

7   Subsection 8(5) (definition of family income threshold )

Omit “$2,865”, substitute “$2,919”.

8   Subsections 8(6) and (7)

Omit “$31,196”, substitute “$31,789”.

9   Paragraph 8D(3)(c)

Omit “$18,488”, substitute “$18,839”.

10   Subparagraph 8D(4)(a)(ii)

Omit “$18,488”, substitute “$18,839”.

11   Paragraph 8G(2)(c)

Omit “$18,488”, substitute “$18,839”.

12   Subparagraph 8G(3)(a)(ii)

Omit “$18,488”, substitute “$18,839”.

13   Application of amendments

The amendments made by this Schedule apply to assessments for the 2010-11 year of income and later years of income.