Commonwealth: Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Act 2004 (Cth)

Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Act 2004 Act No. 84 of 2004 as amended This compilation was prepared on 13 July 2010 taking into account amendments up to Act No. 75 of 2010 The text of any of those amendments not in force on that date is appended in the Notes section The operation of amendments that have been incorporated may be affected by application provisions that are set out in the Notes section Prepared by the Office of Legislative Drafting and Publishing, Attorney‑General's Department, Canberra Contents 1 Short title [see Note 1] 2 Commencement [see Note 1] 3 Schedule(s) 4 Application of amendments Schedule 1—Medicare levy and Medicare levy surcharge low income thresholds A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Act 1999 Medicare Levy Act 1986 Notes An Act to amend the law relating to taxation, and for related purposes 1 Short title [see Note 1] This Act may be cited as the Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Act 2004. 2 Commencement [see Note 1] This Act commences on the day on which it receives the Royal Assent. 3 Schedule(s) Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms. 4 Application of amendments The amendments made by Schedule 1 apply to assessments for the 2003‑2004 year of income and later years of income. Schedule 1—Medicare levy and Medicare levy surcharge low income thresholds A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Act 1999 1 Paragraph 15(1)(c) Omit "$15,062", substitute "$15,529". 2 Paragraph 16(2)(c) Omit "$15,062", substitute "$15,529". Medicare Levy Act 1986 3 Subsection 3(1) (paragraph (b) of the definition of phase‑in limit) Omit "$18,555", substitute "$19,611". 4 Subsection 3(1) (paragraph (c) of the definition of phase‑in limit) Omit "$16,283", substitute "$16,788". 5 Subsection 3(1) (paragraph (b) of the definition of threshold amount) Omit "$17,164", substitute "$18,141". 6 Subsection 3(1) (paragraph (c) of the definition of threshold amount) Omit "$15,062", substitute "$15,529". 7 Subsection 8(5) (definition of family income threshold) Omit "$25,417", substitute "$26,205". 8 Subsection 8(5) (definition of family income threshold) Omit "$2,334", substitute "$2,406". 9 Subsection 8(6) Omit "$25,417", substitute "$26,205". 10 Subsection 8(7) Omit "$25,417", substitute "$26,205". 11 Paragraph 8D(3)(c) Omit "$15,062", substitute "$15,529". 12 Subparagraph 8D(4)(a)(ii) Omit "$15,062", substitute "$15,529". 13 Paragraph 8G(2)(c) Omit "$15,062", substitute "$15,529". 14 Subparagraph 8G(3)(a)(ii) Omit "$15,062", substitute "$15,529". Notes to the Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Act 2004 Note 1 The Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Act 2004 as shown in this compilation comprises Act No. 84, 2004 amended as indicated in the Tables below. Table of Acts Act Number Date Date of commencement Application, saving or transitional provisions and year of Assent Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Act 2004 84, 2004 25 June 2004 25 June 2004 Tax Laws Amendment (2010 Measures No. 2) Act 2010 75, 2010 28 June 2010 Schedule 6 (item 116): 29 June 2010 — Table of Amendments ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted Provision affected How affected S. 5.................... rep. No. 75, 2010