Title Tax Laws Amendment (Medicare Levy Surcharge Thresholds) Bill 2008
Database Amendments
Date 16-02-2012 10:15 AM
Source Senate
System Id legislation/amend/r2992_amend_edf9fd3c-e67f-4f6c-bd14-b144b5040812


Tax Laws Amendment (Medicare Levy Surcharge Thresholds) Bill 2008

5535

2008

 

The Parliament of the

Commonwealth of Australia

 

THE SENATE

 

 

 

 

 

Tax Laws Amendment (Medicare Levy Surcharge Thresholds) Bill 2008

 

 

(1)     Page 2 (after line 2), after clause 3, insert:

4  Review of operation of Act

             (1)  The Minister must cause an independent review of the operation of this Act to be undertaken as soon as possible after each anniversary of the commencement of this Act, for a period of three consecutive years.

             (2)  The review is to consider and report on the impact on public hospitals of the amendments made by this Act, including the number of episodes of care, the impact on operating costs and the impact on elective surgery waiting lists.

             (3)  The person undertaking the review must give the Minister a written report of the review, and the Minister must cause a copy of the report to be tabled in each House of the Parliament within 15 sitting days of receiving the report.

[review of Act]

(2)     Schedule 1, page 3 (after line 17), after item 2, insert:

2A  At the end of section 6

Add:

             (3)  The figure in subsection (1) and the first figure in the formula in subsection (2) are indexed for each year of tax after the year of tax commencing on 1 July 2008 in accordance with the CPI indexation method provided for by Subdivision 960‑M of the Income Tax Assessment Act 1997, calculated using the index number referred to in subsection 960‑280(1) of that Act.

[indexation of thresholds]


(3)     Schedule 1, page 3 (after line 19), after item 3, insert:

3A  At the end of section 12

Add:

             (4)  The figure in paragraph (1)(a) is indexed for each year of tax after the year of tax commencing on 1 July 2008 in accordance with the CPI indexation method provided for by Subdivision 960‑M of the Income Tax Assessment Act 1997, calculated using the index number referred to in subsection 960‑280(1) of that Act.

[indexation of thresholds]

(4)     Schedule 1, page 4 (after line 6), after item 4, insert:

4A  At the end of section 3A

Add:

             (2)  The figure in paragraph (a) and the first figure in the formula in paragraph (b) of the definition of family surcharge threshold in subsection (1) are indexed for each year of tax after the year of tax commencing on 1 July 2008 in accordance with the CPI indexation method provided for by Subdivision 960‑M of the Income Tax Assessment Act 1997, calculated using the index number referred to in subsection 960‑280(1) of that Act.

[indexation of thresholds]

(5)     Schedule 1, page 4 (after line 8), after item 5, insert:

5A  At the end of section 8B

Add:

             (3)  The figure in subsection (2) is indexed for each year of tax after the year of tax commencing on 1 July 2008 in accordance with the CPI indexation method provided for by Subdivision 960‑M of the Income Tax Assessment Act 1997, calculated using the index number referred to in subsection 960‑280(1) of that Act.

[indexation of thresholds]

(6)     Schedule 1, page 4 (after line 10), at the end of Part 1, add:

6A  At the end of section 8E

Add:

             (3)  The figure in subsection (2) is indexed for each year of tax after the year of tax commencing on 1 July 2008 in accordance with the CPI indexation method provided for by Subdivision 960‑M of the Income Tax Assessment Act 1997, calculated using the index number referred to in subsection 960‑280(1) of that Act.

[indexation of thresholds]