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This is a Bill, not an Act. For current law, see the Acts databases.

TAX LAWS AMENDMENT (MEDICARE LEVY AND MEDICARE LEVY SURCHARGE) BILL 2012

2010-2011-2012
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 2012
No. , 2012
(Treasury)
A Bill for an Act to amend the law relating to
taxation, and for related purposes
i Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2012 No. ,
2012
Contents
1 Short
title
...........................................................................................
1
2 Commencement
.................................................................................
1
3 Schedule(s)
........................................................................................
2
Schedule 1--Medicare levy and Medicare levy surcharge
income thresholds
3
Part 1--Main amendments
3
A New Tax System (Medicare Levy Surcharge--Fringe Benefits) Act
1999
3
Medicare Levy Act 1986
3
Part 2--Consequential amendments
5
Clean Energy (Tax Laws Amendments) Act 2011
5
Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2012 No. , 2012
1
A Bill for an Act to amend the law relating to
1
taxation, and for related purposes
2
The Parliament of Australia enacts:
3
1 Short title
4
This Act may be cited as the Tax Laws Amendment (Medicare Levy
5
and Medicare Levy Surcharge) Act 2012.
6
2 Commencement
7
(1) Each provision of this Act specified in column 1 of the table
8
commences, or is taken to have commenced, in accordance with
9
column 2 of the table. Any other statement in column 2 has effect
10
according to its terms.
11
12
2 Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2012 No.
, 2012
Commencement information
Column 1
Column 2
Column 3
Provision(s)
Commencement
Date/Details
1. Sections 1 to 3
and anything in
this Act not
elsewhere covered
by this table
The day this Act receives the Royal Assent.
2. Schedule 1
The earlier of:
(a) the start of the day this Act receives the
Royal Assent; and
(b) immediately before the commencement
of Schedule 2 to the Clean Energy (Tax
Laws Amendments) Act 2011.
Note:
This table relates only to the provisions of this Act as originally
1
enacted. It will not be amended to deal with any later amendments of
2
this Act.
3
(2) Any information in column 3 of the table is not part of this Act.
4
Information may be inserted in this column, or information in it
5
may be edited, in any published version of this Act.
6
3 Schedule(s)
7
Each Act that is specified in a Schedule to this Act is amended or
8
repealed as set out in the applicable items in the Schedule
9
concerned, and any other item in a Schedule to this Act has effect
10
according to its terms.
11
12
Medicare levy and Medicare levy surcharge income thresholds Schedule 1
Main amendments Part 1
Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2012 No. , 2012
3
Schedule 1--Medicare levy and Medicare levy
1
surcharge income thresholds
2
Part 1--Main amendments
3
A New Tax System (Medicare Levy Surcharge--Fringe
4
Benefits) Act 1999
5
1 Paragraphs 15(1)(c) and 16(2)(c)
6
Omit "$18,839", substitute "$19,404".
7
Medicare Levy Act 1986
8
2 Subsection 3(1) (paragraph (b) of the definition of phase-in
9
limit)
10
Omit "$35,810", substitute "$35,824".
11
3 Subsection 3(1) (paragraph (c) of the definition of phase-in
12
limit)
13
Omit "$22,163", substitute "$22,828".
14
4 Subsection 3(1) (paragraph (b) of the definition of threshold
15
amount)
16
Omit "$30,439", substitute "$30,451".
17
5 Subsection 3(1) (paragraph (c) of the definition of threshold
18
amount)
19
Omit "$18,839", substitute "$19,404".
20
6 Subsection 8(5) (definition of family income threshold)
21
Omit "$31,789", substitute "$32,743".
22
7 Subsection 8(5) (definition of family income threshold)
23
Omit "$2,919", substitute "$3,007".
24
8 Subsections 8(6) and (7)
25
Omit "$31,789", substitute "$32,743".
26
Schedule 1 Medicare levy and Medicare levy surcharge income thresholds
Part 1 Main amendments
4 Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2012 No.
, 2012
9 Paragraph 8D(3)(c)
1
Omit "$18,839", substitute "$19,404".
2
10 Subparagraph 8D(4)(a)(ii)
3
Omit "$18,839", substitute "$19,404".
4
11 Paragraph 8G(2)(c)
5
Omit "$18,839", substitute "$19,404".
6
12 Subparagraph 8G(3)(a)(ii)
7
Omit "$18,839", substitute "$19,404".
8
13 Application of amendments
9
The amendments made by this Part apply to assessments for the
10
2011-2012 year of income.
11
12
Medicare levy and Medicare levy surcharge income thresholds Schedule 1
Consequential amendments Part 2
Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2012 No. , 2012
5
Part 2--Consequential amendments
1
Clean Energy (Tax Laws Amendments) Act 2011
2
14 Item 1 of Schedule 2
3
Omit "$18,839", substitute "$19,404".
4
15 Item 3 of Schedule 2
5
Omit "$22,163", substitute "$22,828".
6
16 Items 5, 7, 8, 9 and 10 of Schedule 2
7
Omit "$18,839", substitute "$19,404".
8

 

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