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Tuesday, 22 May 2012
Page: 5038

Mr BRADBURY (LindsayAssistant Treasurer and Minister Assisting for Deregulation) (16:58): I would like to thank the members who have taken part in the debate on Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2012. This bill 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 $18,839 to $19,404. The level of the family income threshold is to be increased from $31,789 to $32,743. The Medicare levy low-income threshold for pensioners below age pension age will also increase from $30,439 to $30,451 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 the Medicare levy surcharge. The increases apply to the 2011-12 year of income. I commend this bill to the House. Question agreed to.

Bill read a second time.