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This is a Bill, not an Act. For current law, see the Acts databases.
1998-1999-2000
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) Amendment Bill
2000
No. ,
2000
(Treasury)
A Bill
for an Act to amend the A New Tax System (Medicare Levy
Surcharge—Fringe Benefits) Act 1999, and for related
purposes
ISBN: 0642 429812
Contents
A Bill for an Act to amend the A New Tax System
(Medicare Levy Surcharge—Fringe Benefits) Act 1999, and for related
purposes
The Parliament of Australia enacts:
This Act may be cited as the A New Tax System (Medicare Levy
Surcharge—Fringe Benefits) Amendment Act 2000.
This Act commences on the day on which it receives the Royal
Assent.
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repealed as set out in the applicable items in the Schedule concerned, and any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.
1 Subsections 11(2) and (3)
Repeal the subsections.
2 At the end of section 15
Add:
Special rule if person’s spouse is a presently entitled
beneficiary in a trust estate
(2) In working out whether subsection (1) applies to a person whose spouse
is a beneficiary presently entitled to a share in the net income of a trust
estate in respect of which the trustee is liable to be assessed under section 98
of the Assessment Act, assume that:
(a) the spouse’s taxable income included that share; and
(b) subsection 271-105(1) in Schedule 2F to that Act did not apply in
working out the net income of the trust estate.
Note: Insert before subsection 15(1) the heading
“When this section applies”.
3 Paragraph 16(3)(b)
Omit “$13,389”, substitute “the family surcharge
threshold”.
4 Subsection 16(5)
Repeal the subsection, substitute:
Special rule if person’s spouse is a presently entitled
beneficiary in a trust estate
(5) In working out whether subsection (2) applies to a person whose spouse
is a beneficiary presently entitled to a share in the net income of a trust
estate in respect of which the trustee is liable to be assessed under section 98
of the Assessment Act, assume that:
(a) the spouse’s taxable income included that share; and
(b) subsection 271-105(1) in Schedule 2F to that Act did not apply in
working out the net income of the trust estate.
5 Application
The amendments made by this Schedule apply to assessments for the 1999-2000
year of income and later years of income.