Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Tax and Superannuation Laws Amendment (2014 Measures No. 2) Bill 2014

Schedule 1 Medicare levy thresholds

   

Income Tax Assessment Act 1936

1  Subsection 251R(4)

Omit “subsection 159J(1A)”, substitute “subsections 159J(1A) and (1F)”.

Medicare Levy Act 1986

2  Subsection 8(5) (definition of family income threshold )

Omit “$33,693”, substitute “$34,367”.

3  Subsection 8(5) (definition of family income threshold )

Omit “$3,094”, substitute “$3,156”.

4  Subsection 8(5) (definition of family income threshold )

Omit “subsection 159J(1A)”, substitute “subsections 159J(1A) and (1F)”.

5  Subsections 8(6) and (7)

Omit “$33,693”, substitute “$34,367”.

6  Application of amendments

(1)       The amendments made by items 1 and 4 apply to assessments for the 2012-13 year of income and later years of income.

(2)       The amendments made by items 2, 3 and 5 apply to assessments for the 2013-14 year of income and later years of income.