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02 Jun 10 Medicare Levy and Medicare Levy Surcharge Bill 2010 passed by House

On 1 June 2010, Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2010 was passed by the House of Representatives without amendment.

The Bill amends the Medicare Levy Act 1986 to:

  • increase the Medicare levy low-income thresholds for individuals and families. The dependent child/student component of the family threshold will also be increased. These increases are in line with movements in the consumer price index; and
  • 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.

The Bill also 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.

The Bill now proceeds to the Senate.

 


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