Tax Laws Amendment (Medicare Levy) Act 2013

(81 of 2013)

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

[Assented to 28 June 2013]

The Parliament of Australia enacts:

1   Short title

This Act may be cited as theTax Laws Amendment (Medicare Levy) Act 2013.

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Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.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

Medicare Levy Act 1986

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

Omit "$32,743", substitute "$33,693".

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

Omit "$3,007", substitute "$3,094".

3   Subsections 8(6) and (7)

Omit "$32,743", substitute "$33,693".

4   Application of amendments

The amendments made by this Schedule apply to assessments for the 2012-2013 year of income and later years of income.