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Medicare Levy Amendment (National Disability Insurance Scheme Funding) Bill 2017

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2016-2017

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

Medicare Levy Amendment (National Disability Insurance Scheme Funding) Bill 2017

 

 

(1)     Schedule 1, page 3 (after line 7), after item 2, insert:

2A  After section 7

Insert:

8   Levy in cases of incomes not exceeding $87,000 (other than small incomes)

                   Where the taxable income of a person:

                     (a)  is not income of an amount mentioned in subsection 7(1) or (2); and

                     (b)  does not exceed $87,000;

the rate of levy payable by that person upon that taxable income (but for sections 8 and 9) is 2%.

[2% medicare level]

( 2 )     Schedule  1 , item  3 , page 3 (lines 9 to 10) , omit “ 2.5 ”, substitute “ x ”.

[2% medicare level]

( 3 )     Schedule  1 , item  3 , page 3 (lines 9 to 10) , omit “ 0.075 ”, substitute “ y ”.

[2% medicare level]

( 4 )     Schedule  1 , page 3 (after line 10) , after item  3 , insert:

3A  At the end of subsection 8(2)

Add:

where:

x means:

                     (a)  if the family income threshold does not exceed $87,000—2; and

                     (b)  otherwise—2.5.

y means:

                     (a)  if the family income threshold does not exceed $87,000—0.08; and

                     (b)  otherwise—0.075.

[2% medicare level]