Medicare Levy Act 1986
This section applies to a person who is a beneficiary of a trust estate during a period if:
(a) section 8B applies to the beneficiary during the whole of the period; and
(b) the trustee of the trust estate in that capacity is liable to be assessed under section 98 of the Assessment Act in respect of a share of the net income of the trust estate to which the beneficiary is presently entitled (the beneficiary ' s trust income ). 8E(2) [ Levy threshold]
If the amount of the beneficiary ' s trust income exceeds the beneficiary ' s singles tier 1 threshold for the year of income, the amount of the levy that, apart from this section, would have been payable under this Act by the trustee in the capacity of trustee of the trust estate in relation to the beneficiary for the year of income is to be increased:
(a) if this section applies to the beneficiary for the whole of the year of income - by the amount of 1% of the beneficiary ' s trust income; or
(b) if this section applies to the beneficiary for only some of the days in the year of income - by the amount worked out using the formula:
| (1% of the beneficiary
'
s
trust income) |
× |
Number of those days
Number of days in the year of income |
View history note
Hide history noteIncrease the amount of each percentage mentioned in subsection (2) by 0.25 of a percentage point if the beneficiary is a tier 2 earner for the year of income.
8E(4)
Increase the amount of each percentage mentioned in subsection (2) by 0.5 of a percentage point if the beneficiary is a tier 3 earner for the year of income.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
