A New Tax System (Medicare Levy Surcharge - Fringe Benefits) Act 1999
This Division applies to a person for a period in a year of income if:
(a) the person ' s income for surcharge purposes for the year of income exceeds the person ' s singles tier 1 threshold for the year of income; and
(b) during the whole of the period:
(i) the person is not a married person; and
(ii) the person does not have any dependants; and
(iii) the person is not covered by an insurance policy that provides private patient hospital cover; and
(iv) the person is not a prescribed person.
View history note
Hide history noteThe amount of surcharge payable on the person ' s reportable fringe benefits total for the year of income is 1% of that total if this Division applies to the person for the whole of the year of income.
12(3) [ Part of year calculation]If this Division applies to the person for only some of the days of the year of income, the amount of surcharge payable on the person ' s reportable fringe benefits total for the year of income includes the amount worked out using the formula:
12(4)
Increase the amount of each percentage mentioned in subsections (2) and (3) by 0.25 of a percentage point if the person is a tier 2 earner for the year of income.
12(5)
Increase the amount of each percentage mentioned in subsections (2) and (3) by 0.5 of a percentage point if the person is a tier 3 earner for the year of income.
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