1998

The Parliament of the

Commonwealth of Australia

HOUSE OF REPRESENTATIVES

Presented and read a first time

A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Bill 1998

No.      , 1998

(Treasury)

A Bill for an Act to implement A New Tax System by imposing Medicare levy surcharge on reportable fringe benefits totals of some employees without private hospital insurance

Contents

Part 1—Preliminary                                                                                                              1

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 2

3............ Definitions.......................................................................................... 2

4............ When does an insurance policy provide private patient hospital cover? 3

5............ Who is a dependant of a person?........................................................ 3

6............ What is the family surcharge threshold ?............................................. 3

7............ When are people married ?.................................................................. 4

8............ Who is a prescribed person ?.............................................................. 4

9............ What is a person’s taxable income for a year of income?.................... 5

Part 2—Imposition of surcharge                                                                                   6

10.......... Imposition of Medicare levy surcharge............................................... 6

Part 3—Amount of surcharge payable                                                                      7

Division 1—General rule                                                                                             7

11.......... Amount of surcharge payable............................................................. 7

Division 2—Amount of surcharge for single person without dependants             8

12.......... Amount of surcharge for single person without dependants............... 8

Division 3—Amount of surcharge for single person with dependants 9

13.......... Amount of surcharge for single person with dependants.................... 9

Division 4—Amount of surcharge for married person                             11

14.......... Who does this Division apply to?..................................................... 11

15.......... Amount of surcharge if this Division applies for whole year............ 12

16.......... Amount of surcharge if this Division applies for part of the year..... 12

A Bill for an Act to implement A New Tax System by imposing Medicare levy surcharge on reportable fringe benefits totals of some employees without private hospital insurance

The Parliament of Australia enacts: