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On 15 June 2011 the Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2011 passed the Senate without amendment, and now awaits the Royal Assent.

This Bill:

  • amends the Medicare Levy Act 1986 to increase the Medicare levy low-income thresholds for individuals and families and the dependent child/student component of the family threshold, and to increase the Medicare levy low-income threshold for pensioners below age pension age so that they do not have a Medicare levy liability where they do not have an income tax liability. These amendments apply from the 2010-2011 income year and later income years, and
  • amends the A New Tax System (Medicare Levy Surcharge - Fringe Benefits) Act 1999 to increase the Medicare levy surcharge low-income threshold in line with movements in the consumer price index.