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Medicare Levy Amendment (CPI Indexation) Bill (No. 1) 2001
Schedule 1 Indexing thresholds

Part 1 A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Act 1999

1  Paragraphs 15(1)(c) and 16(2)(c)

Omit “$13,550”, substitute “$13,807”.

2  Application

The amendments of the A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Act 1999 made by this Part apply to assessments for the 2000-2001 year of income and later years of income.



 

Part 2 Medicare Levy Act 1986

3  Subsection 7(1)

Omit “$13,550”, substitute “$13,807”.

4  Subsection 7(2)

Omit “$13,550”, substitute “$13,807”.

5  Subsection 7(2)

Omit “$14,648”, substitute “$14,926”.

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

Omit “$22,865”, substitute “$23,299”.

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

Omit “$2,100”, substitute “$2,140”.

8  Subsection 8(6)

Omit “$22,865”, substitute “$23,299”.

9  Paragraph 8D(3)(c)

Omit “$13,550”, substitute “$13,807”.

10  Subparagraph 8D(4)(a)(ii)

Omit “$13,550”, substitute “$13,807”.

11  Paragraph 8G(2)(c)

Omit “$13,550”, substitute “$13,807”.

12  Subparagraph 8G(3)(a)(ii)

Omit “$13,550”, substitute “$1 3,8 07”.

13  Application

The amendments of the Medicare Levy Act 1986 made by this Part apply to assessments for the 2000-2001 year of income and later years of income.