Summary
Amends the
A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Act 1999
and
Medicare Levy Act 1986
to increase the Medicare levy surcharge threshold to $75,000 for individuals (with annual indexation) and to $150,000 for families (to be twice the individual rate in future years). Also provides for transitional arrangements so that individuals who obtain private health cover before 1 January 2009 avoid the surcharge for the period 1 July to 31 December 2008.