23 May 12 Medicare Levy and Medicare Levy Surcharge Bill passed by House
On 22 May 2012, Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2012 was passed by the House of Representatives 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 increase the phase-in limits as a result of the increased threshold amounts. The Bill also makes consequential amendments to the Clean Energy (Tax Laws Amendments) Act 2011.
The Bill now proceeds to the Senate.