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This is a Bill, not an Act. For current law, see the Acts databases.
2002-2003-2004
The Parliament
of the
Commonwealth of
Australia
HOUSE OF
REPRESENTATIVES
Presented and read a first
time
Tax
Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill
2004
No. ,
2004
(Treasury)
A Bill
for an Act to amend the law relating to taxation, and for related
purposes
Contents
A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Act
1999 3
Medicare Levy Act
1986 3
A Bill for an Act to amend the law relating to taxation,
and for related purposes
The Parliament of Australia enacts:
This Act may be cited as the Tax Laws Amendment (Medicare Levy and
Medicare Levy Surcharge) Act 2004.
This Act commences on the day on which it receives the Royal
Assent.
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repealed as set out in the applicable items in the Schedule concerned, and any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.
The amendments made by Schedule 1 apply to assessments for the
2003-2004 year of income and later years of income.
Section 170 of the Income Tax Assessment Act 1936 does not
prevent the amendment of an assessment made before the commencement of this
section for the purposes of giving effect to this Act.
A New Tax System (Medicare
Levy Surcharge—Fringe Benefits) Act 1999
1 Paragraph 15(1)(c)
Omit “$15,062”, substitute “$15,529”.
2 Paragraph 16(2)(c)
Omit “$15,062”, substitute “$15,529”.
3 Subsection 3(1) (paragraph (b) of the
definition of phase-in limit)
Omit “$18,555”, substitute “$19,611”.
4 Subsection 3(1) (paragraph (c) of the
definition of phase-in limit)
Omit “$16,283”, substitute “$16,788”.
5 Subsection 3(1) (paragraph (b) of the
definition of threshold amount)
Omit “$17,164”, substitute “$18,141”.
6 Subsection 3(1) (paragraph (c) of the
definition of threshold amount)
Omit “$15,062”, substitute “$15,529”.
7 Subsection 8(5) (definition of family income
threshold)
Omit “$25,417”, substitute “$26,205”.
8 Subsection 8(5) (definition of family income
threshold)
Omit “$2,334”, substitute “$2,406”.
9 Subsection 8(6)
Omit “$25,417”, substitute “$26,205”.
10 Subsection 8(7)
Omit “$25,417”, substitute “$26,205”.
11 Paragraph 8D(3)(c)
Omit “$15,062”, substitute “$15,529”.
12 Subparagraph 8D(4)(a)(ii)
Omit “$15,062”, substitute “$15,529”.
13 Paragraph 8G(2)(c)
Omit “$15,062”, substitute “$15,529”.
14 Subparagraph 8G(3)(a)(ii)
Omit “$15,062”, substitute “$15,529”.