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Tuesday, 24 May 2011
Page: 4454

Mr BRADBURY (LindsayParliamentary Secretary to the Treasurer) (19:19): I would like to thank all of the members who have taken part in this debate—the members for Casey, Blair, and Capricornia—and note that the members for Casey and Blair are becoming the heavy lifters when it comes to these tax law amendment bills. The Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2011 increases the Medicare levy low-income thresholds for individuals and families in line with increases in the consumer price index. The individual threshold amount is to be increased from $18,488 to $18,839. The level of the family income threshold is to be increased from $31,196 to $31,789. The Medicare levy low-income threshold for pensioners below age pension age is also increased so that individuals in this cohort do not pay the Medicare levy when they do not have a tax liability.

The low-income threshold in the Medicare levy surcharge provisions is similarly increased. This change ensures that a low-income member of a family will continue to be exempt from the Medicare levy and Medicare levy surcharge. The amendments to the Medicare levy low-income thresholds apply to the 2010-11 year of income and later income years. The annual adjustments to the Medicare levy and the Medicare levy surcharge low-income thresholds have enjoyed bipartisan support for over a decade, as the member for Casey indicated. Full details of these measures are in the bill and are also contained in the explanatory memorandum. I would again like to thank all of those who have participated in this debate and commend the bill to the House.

Bill read a second time.

Ordered that the bill be reported to the House without amendment.