Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Act 2005 (Cth)

Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Act 2005

Act No. 62 of 2005 as amended

This compilation was prepared on 13 July 2010 taking into account amendments up to Act No. 75 of 2010

The text of any of those amendments not in force on that date is appended in the Notes section

The operation of amendments that have been incorporated may be affected by application provisions that are set out in the Notes section

Prepared by the Office of Legislative Drafting and Publishing, Attorney‑General's Department, Canberra

Contents 1 Short title [see Note 1] 2 Commencement [see Note 1] 3 Schedule(s)

Schedule 1—Medicare levy and Medicare levy surcharge low income thresholds A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Act 1999 Medicare Levy Act 1986

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

1 Short title [see Note 1]

This Act may be cited as the Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Act 2005.

2 Commencement [see Note 1]

This Act commences on the day on which it 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Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.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 and Medicare levy surcharge low income thresholds

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

1 Paragraphs 15(1)(c) and 16(2)(c) Omit "$15,529", substitute "$15,902".

Medicare Levy Act 1986

2 Subsection 3(1) (paragraph (b) of the definition of phase‑in limit) Omit "$19,611", substitute "$20,812".

3 Subsection 3(1) (paragraph (c) of the definition of phase‑in limit) Omit "$16,788", substitute "$17,191".

4 Subsection 3(1) (paragraph (b) of the definition of threshold amount) Omit "$18,141", substitute "$19,252".