The Parliament of the

Commonwealth of Australia

HOUSE OF REPRESENTATIVES

Presented and read a first time

Medicare Levy Amendment (CPI Indexation) Bill (No. 2) 2000

No. , 2000

(Treasury)

A Bill for an Act to index thresholds for Medicare levy and Medicare levy surcharge, and for related purposes

ISBN: 0642 464243

Contents

Part 1--A New Tax System (Medicare Levy Surcharge--Fringe Benefits) Act 1999 3

Part 2--Medicare Levy Act 1986 4

A Bill for an Act to index thresholds for Medicare levy and Medicare levy surcharge, and for related purposes

The Parliament of Australia enacts:

1 Short title This Act may be cited as the Medicare Levy Amendment (CPI Indexation) Act (No. 2) 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3 Schedule(s) Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.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--Indexing thresholds Part 1--A New Tax System (Medicare Levy Surcharge--Fringe Benefits) Act 1999

1 Paragraphs 15(1)(c) and 16(2)(c)

Omit "$13,550", substitute "$13,807".

2 Application

The amendments of the A New Tax System (Medicare Levy Surcharge--Fringe Benefits) Act 1999 made by this Part apply to assessments for the 2000-2001 year of income and later years of income.

Part 2--Medicare Levy Act 1986

3 Subsection 7(1)

Omit "$13,550", substitute "$13,807".

4 Subsection 7(2)

Omit "$13,550", substitute "$13,807".

5 Subsection 7(2)

Omit "$14,648", substitute "$14,926".

6 Subsection 8(5) (definition of family income threshold)

Omit "$22,865", substitute "$23,299".

7 Subsection 8(5) (definition of family income threshold)

Omit "$2,100", substitute "$2,140".

8 Subsection 8(6)

Omit "$22,865", substitute "$23,299".

9 Paragraph 8D(3)(c)

Omit "$13,550", substitute "$13,807".

10 Subparagraph 8D(4)(a)(ii)

Omit "$13,550", substitute "$13,807".

11 Paragraph 8G(2)(c)

Omit "$13,550", substitute "$13,807".

12 Subparagraph 8G(3)(a)(ii)

Omit "$13,550", substitute "$1 3,807".

13 Application

The amendments of the Medicare Levy Act 1986 made by this Part apply to assessments for the 2000-2001 year of income and later years of income.