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On 17 June 2010, the Senate passed Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2010 without amendment.

The Bill amends the A New Tax System (Medicare Levy Surcharge - Fringe Benefits) Act 1999 and Medicare Levy Act 1986 to increase the Medicare levy and Medicare levy surcharge low-income threshold amounts for individuals, families and pensioners below pension age; and to increase the phase-in limits as a result of the increased threshold amounts.

The Bill now awaits Royal Assent.

 


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