1998-1999-2000
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
A New Tax System (Medicare Levy Surcharge--Fringe Benefits) Amendment Bill 2000
No. , 2000
(Treasury)
A Bill for an Act to amend the A New Tax System (Medicare Levy Surcharge--Fringe Benefits) Act 1999, and for related purposes

ISBN: 0642 429812

Contents
A Bill for an Act to amend the A New Tax System (Medicare Levy Surcharge--Fringe Benefits) Act 1999, and for related purposes
The Parliament of Australia enacts:

1 Short title

This Act may be cited as the A New Tax System (Medicare Levy Surcharge--Fringe Benefits) Amendment Act 2000.

2 Commencement

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

3 Schedule(s)

Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1--A New Tax System (Medicare Levy Surcharge--Fringe Benefits) Act 1999

1 Subsections 11(2) and (3)
Repeal the subsections.
2 At the end of section 15
Add:
Special rule if person's spouse is a presently entitled beneficiary in a trust estate
(2) In working out whether subsection (1) applies to a person whose spouse is a beneficiary presently entitled to a share in the net income of a trust estate in respect of which the trustee is liable to be assessed under section 98 of the Assessment Act, assume that:
(a) the spouse's taxable income included that share; and
(b) subsection 271-105(1) in Schedule 2F to that Act did not apply in working out the net income of the trust estate.
Note: Insert before subsection 15(1) the heading "When this section applies".
3 Paragraph 16(3)(b)
Omit "$13,389", substitute "the family surcharge threshold".
4 Subsection 16(5)
Repeal the subsection, substitute:
Special rule if person's spouse is a presently entitled beneficiary in a trust estate
(5) In working out whether subsection (2) applies to a person whose spouse is a beneficiary presently entitled to a share in the net income of a trust estate in respect of which the trustee is liable to be assessed under section 98 of the Assessment Act, assume that:
(a) the spouse's taxable income included that share; and
(b) subsection 271-105(1) in Schedule 2F to that Act did not apply in working out the net income of the trust estate.
5 Application
The amendments made by this Schedule apply to assessments for the 1999-2000 year of income and later years of income.