Medicare Levy Amendment Act (No. 2) 1992

No. 157 of 1992

An Act to amend the Medicare Levy Act 1986, and for related purposes

[Assented to 11 December 1992]

The Parliament of Australia enacts:

Short title etc.

1.(1) This Act may be cited as the Medicare Levy Amendment Act (No. 2) 1992.

(2) In this Act, “Principal Act” means the Medicare Levy Act 1986¹.

Commencement

2.  This Act commences on the day on which it receives the Royal Assent.

Rate of levy

3.  Section 6 of the Principal Act is amended by omitting “1.25%” (wherever occurring) and substituting “1.4%”.

Amount of levy—person who has spouse or dependants

4.(1) Section 8 of the Principal Act is amended:

(a)    by omitting from subsection (2) “0.1875” and substituting “0.186”;

(b)    by omitting from subsection (2) “1.25%” and substituting “1.4%”.

(2) Section 8 of the Principal Act is amended by omitting from subsection (6) “family allowance” and substituting “family payment”.

Application

[New rate]

5.(1) The amendments made by section 3 and subsection 4(1) apply for the financial year commencing on 1 July 1993 and all later financial years.

[Family payments under Part 2.17 of the Social Security Act 1991]

(2) The amendment made by subsection 4(2) applies to payments made on or after 1 January 1993.

NOTE

1. No. 110, 1986, as amended. For previous amendments, see No. 110, 1987; No. 93, 1988; No. 137, 1989; Nos. 86 and 135, 1990; and Nos. 100 and 212, 1991.

[Minister’s second reading speech made in—

House of Representatives on 3 November 1992

Senate on 26 November 1992]