Commonwealth Consolidated Acts

TAXATION LAWS AMENDMENT (MEDICARE LEVY AND MEDICARE LEVY SURCHARGE) ACT 2002 - SCHEDULE 1

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".

Medicare Levy Act 1986

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.