Commonwealth Consolidated Acts

TAX LAWS AMENDMENT (MEDICARE LEVY AND MEDICARE LEVY SURCHARGE) ACT 2005 - SCHEDULE 1

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

1   Paragraphs 15(1)(c) and 16(2)(c)

Omit "$15,529", substitute "$15,902".

Medicare Levy Act 1986

2   Subsection 3(1) (paragraph   (b) of the definition of phase - in limit )

Omit "$19,611", substitute "$20,812".

3   Subsection 3(1) (paragraph   (c) of the definition of phase - in limit )

Omit "$16,788", substitute "$17,191".

4   Subsection 3(1) (paragraph   (b) of the definition of threshold amount )

Omit "$18,141", substitute "$19,252".

5   Subsection 3(1) (paragraph   (c) of the definition of threshold amount )

Omit "$15,529", substitute "$15,902".

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

Omit "$26,205", substitute "$26,834".

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

Omit "$2,406", substitute "$2,464".

8   Subsections 8(6) and (7)

Omit "$26,205", substitute "$26,834".

9   Paragraph 8D(3)(c)

Omit "$15,529", substitute "$15,902".

10   Subparagraph 8D(4)(a)(ii)

Omit "$15,529", substitute "$15,902".

11   Paragraph 8G(2)(c)

Omit "$15,529", substitute "$15,902".

12   Subparagraph 8G(3)(a)(ii)

Omit "$15,529", substitute "$15,902".

13   Application of amendments

The amendments made by this Schedule apply to assessments for the 2004 - 2005 year of income and later years of income.

Notes to the Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Act 2005

Note 1

The Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Act 2005 as shown in this compilation comprises Act No.   62 , 2005 amended as indicated in the Tables below.

Table of Acts

Table of Amendments