Second Reading Speech
Mr Brough (Longman-Minister for Revenue and Assistant Treasurer)
I move:
That this bill be now read a second time.
This bill will increase the Medicare levy low-income thresholds for individuals and families in line with increases in the consumer price index. The low-income threshold in the Medicare levy surcharge provisions will similarly be increased. These changes will ensure that low-income individuals and families will continue not to have to pay the Medicare levy or surcharge.
The bill will also increase the Medicare levy low-income threshold for pensioners below age pension age to ensure that where these pensioners do not have a tax liability they will also not have a Medicare levy liability.
The amendments will apply to the 2004-05 year of income and later years of income.
Full details of the measures in this bill are contained in the explanatory memorandum.
I commend this bill and present the explanatory memorandum.
Debate (on motion by Mr Rudd ) adjourned.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
