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This is a Bill, not an Act. For current law, see the Acts databases.
2002
The Parliament of
the
Commonwealth of
Australia
HOUSE OF
REPRESENTATIVES
Presented and read a first
time
Taxation
Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill
2002
No. ,
2002
(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
Income Tax Assessment Act
1936 5
Medicare Levy Act
1986 5
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 Taxation Laws Amendment (Medicare Levy
and Medicare Levy Surcharge) Act 2002.
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repealed as set out in the applicable items in the Schedule concerned, and any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.
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 “$13,807”, substitute “$14,539”.
2 Paragraph 16(2)(c)
Omit “$13,807”, substitute “$14,539”.
3 Subsection 3(1) (paragraph (b) of the
definition of phase-in limit)
Omit “$17,264”, substitute “$17,913”.
4 Subsection 3(1) (paragraph (c) of the
definition of phase-in limit)
Omit “$14,926”, substitute “$15,717”.
5 Subsection 3(1) (paragraph (b) of the
definition of threshold amount)
Omit “$15,970”, substitute “$16,570”.
6 Subsection 3(1) (paragraph (c) of the
definition of threshold amount)
Omit “$13,807”, substitute “$14,539”.
7 Subsection 8(5) (definition of family
income threshold)
Omit “$23,299”, substitute “$24,534”.
8 Subsection 8(5) (definition of family
income threshold)
Omit “$2,140”, substitute “$2,253”.
9 Subsection 8(6)
Omit “$23,299”, substitute “$24,534”.
10 Subsection 8(7)
Omit “$23,299”, substitute “$24,534”.
11 Paragraph 8D(3)(c)
Omit “$13,807”, substitute “$14,539”.
12 Subparagraph
8D(4)(a)(ii)
Omit “$13,807”, substitute “$14,539”.
13 Paragraph 8G(2)(c)
Omit “$13,807”, substitute “$14,539”.
14 Subparagraph
8G(3)(a)(ii)
Omit “$13,807”, substitute “$14,539”.
15 Application of
amendments
The amendments made by this Schedule apply to assessments for the 2001-2002
year of income and later years of income.
Income Tax Assessment Act
1936
1 Paragraph 251U(1)(cb)
Omit “subsection 43(1) of”, substitute “Method statement
2 in subpoint SCH6-A1(3), or Method statement 4 in subpoint SCH6-A1(5), in
Schedule 6 to”.
2 Subparagraph
251U(1)(cc)(ii)
Omit all the words after “worked out under”, substitute
“Method statement 6 in subpoint SCH6-A1(7) in Schedule 6 to the
Veterans’ Entitlements Act 1986;”.
3 Application of amendments
The amendments made by items 1 and 2 apply to assessments for the
1997-98 year of income and later years of income.
4 Paragraph 8(1)(b)
Repeal the paragraph, substitute:
(b) is entitled to a rebate under section 159J of the Assessment Act
in respect of a person included in class 2 of the table in subsection 159J(2) of
that Act, or would be so entitled apart from subsection 159J(1AA) of that Act;
or
5 Paragraph 8(1)(d)
Repeal the paragraph, substitute:
(d) is entitled to a rebate under section 159L of that Act, or would
be so entitled apart from subsection 159L(3A) of that Act;
6 Paragraph 8(2)(b)
Repeal the paragraph, substitute:
(b) is entitled to a rebate under section 159J of the Assessment Act
in respect of a person included in class 2 of the table in subsection 159J(2) of
that Act, or would be so entitled apart from subsection 159J(1AA) of that Act;
or
7 Paragraph 8(2)(d)
Repeal the paragraph, substitute:
(d) is entitled to a rebate under section 159L of that Act, or would
be so entitled apart from subsection 159L(3A) of that Act;
8 Application of amendments
The amendments made by items 4 to 7 apply to assessments for the
2000-01 year of income and later years of income.