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Tuesday, 6 September 1983
Page: 413

Mr HURFORD (Minister for Housing and Construction and Minister Assisting the Treasurer)(8.40) —I move:

That the Bill be now read a second time.

When I introduce the Income Tax Laws Amendment (Medicare Levy) Bill 1983, I will outline the basic features of the Government's scheme for introduction of a Medicare levy. This Bill-the Medicare Levy Bill 1983-declares the basic rate of levy. For 1983-84 the basic rate will be 0.416 per cent of taxable income, that is, five-twelfths of the full year rate of 1 per cent. The Bill also contains rules for fixing the maximum amount of levy payable and the income points below which people with low incomes will not be called on to pay any levy.

As I will mention in my speech on the Income Tax Laws Amendment (Medicare Levy) Bill, the basic rate will be reduced by one half for certain repatriation beneficiaries and service personnel who are liable for the levy because their dependants are eligible for Medicare benefits. Explanations of each clause of the Bill are contained in the explanatory memorandum which will be available to members shortly. I commend the Bill to the House.

Debate (on motion by Mr Howard) adjourned.