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A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Act 1999
1 Subsection 3(1) (definition of family surcharge threshold )
Repeal the definition.
2 Subsection 3(1)
Insert:
family tier 1 threshold , of a person for a year of income, means the family tier 1 threshold (within the meaning of the Private Health Insurance Act 2007 ) of the person for the financial year corresponding to the year of income.
3 Subsection 3(1) (definition of singles surcharge threshold )
Repeal the definition.
4 Subsection 3(1)
Insert:
singles tier 1 threshold , of a person for a year of income, means the singles tier 1 threshold (within the meaning of the Private Health Insurance Act 2007 ) of the person for the financial year corresponding to the year of income.
5 Subsection 3(1)
Insert:
tier 2 earner has the meaning given by section 6.
6 Subsection 3(1)
Insert:
tier 3 earner has the meaning given by section 6.
7 Sections 5A and 6
Repeal the sections, substitute:
6 What is a tier 2 earner and tier 3 earner
(1) Subject to this section, for the purposes of this Act:
(a) tier 2 earner , for a year of income, means a tier 2 earner (within the meaning of the Private Health Insurance Act 2007 ) for the financial year corresponding to the year of income; and
(b) tier 3 earner , for a year of income, means a tier 3 earner (within the meaning of that Act) for the financial year corresponding to the year of income.
(2) In determining whether a person is a tier 2 earner or tier 3 earner for a year of income for the purposes of this Act, section 22-30 of the Private Health Insurance Act 2007 operates with the modification set out in subsection (3).
(3) Replace paragraph 22-30(1)(b) of the Private Health Insurance Act 2007 with the following paragraph:
(b) on any day in the year, the person has one or more dependants (within the meaning of the A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Act 1999 ), other than a dependant to whom the person is married (within the meaning of that Act):
8 Paragraph 12(1)(a)
Omit “the singles surcharge threshold”, substitute “the person’s singles tier 1 threshold”.
9 At the end of section 12
Add:
(4) Increase the amount of each percentage mentioned in subsections (2) and (3) by 0.25 of a percentage point if the person is a tier 2 earner for the year of income.
(5) Increase the amount of each percentage mentioned in subsections (2) and (3) by 0.5 of a percentage point if the person is a tier 3 earner for the year of income.
10 Paragraph 13(1)(a)
Omit “family surcharge threshold”, substitute “family tier 1 threshold”.
11 At the end of section 13
Add:
(5) Increase the amount of each percentage mentioned in subsections (3) and (4) by 0.25 of a percentage point if the person is a tier 2 earner for the year of income.
(6) Increase the amount of each percentage mentioned in subsections (3) and (4) by 0.5 of a percentage point if the person is a tier 3 earner for the year of income.
12 Paragraph 15(1)(b)
Omit “family surcharge threshold”, substitute “family tier 1 threshold”.
13 At the end of section 15
Add:
(3) Increase the amount of the percentage mentioned in subsection (1) by 0.25 of a percentage point if the person is a tier 2 earner for the year of income.
(4) Increase the amount of the percentage mentioned in subsection (1) by 0.5 of a percentage point if the person is a tier 3 earner for the year of income.
14 Paragraph 16(2)(b)
Omit “family surcharge threshold”, substitute “family tier 1 threshold”.
15 Paragraph 16(3)(b)
Omit “family surcharge threshold”, substitute “family tier 1 threshold”.
16 After subsection 16(4)
Insert:
(4A) Increase the amount of the percentage mentioned in subsection (4) by 0.25 of a percentage point if the person is a tier 2 earner for the year of income.
(4B) Increase the amount of the percentage mentioned in subsection (4) by 0.5 of a percentage point if the person is a tier 3 earner for the year of income.
17 Application
The amendments made by this Schedule apply to the 2012-13 year of income and later years of income.
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(106/11) |