Tax and Superannuation Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Act 2015 (Cth)

Tax and Superannuation Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Act 2015

No. 69, 2015

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

Contents 1 Short title 2 Commencement 3 Schedules Schedule 1—Medicare levy and Medicare levy surcharge income thresholds A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Act 1999 Medicare Levy Act 1986

Tax and Superannuation Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Act 2015 No. 69, 2015

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

[Assented to 25 June 2015]

The Parliament of Australia enacts:

1 Short title This Act may be cited as the Tax and Superannuation Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Act 2015.

2 Commencement This Act commences on the day this Act receives the Royal Assent.

3 Schedules Legislation that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.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

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

1 Paragraphs 15(1)(c) and 16(2)(c) Omit "$20,542", substitute "$20,896".

Medicare Levy Act 1986

2 Subsection 3(1) (paragraph (a) of the definition of phase‑in limit) Omit "$37,975", substitute "$41,305".

3 Subsection 3(1) (paragraph (c) of the definition of phase‑in limit) Omit "$24,167", substitute "$26,120".

4 Subsection 3(1) (paragraph (a) of the definition of threshold amount) Omit "$32,279", substitute "$33,044".

5 Subsection 3(1) (paragraph (c) of the definition of threshold amount) Omit "$20,542", substitute "$20,896".

6 Subsection 8(5) (definition of family income threshold) Omit "$34,367", substitute "$35,261".