Commonwealth Consolidated Acts

MEDICARE LEVY ACT 1986 - SECT 3AA

             (1)  The singles surcharge threshold for a person for the 2008‑09 year of income is $70,000. This amount is indexed annually.

Indexation of singles surcharge threshold

             (2)  The amount of the singles surcharge threshold is indexed annually by:

                     (a)  multiplying the singles surcharge threshold for the 2008‑09 year of income by its indexation factor; and

                     (b)  rounding the result in paragraph (a) down to the nearest multiple of $1,000.

             (3)  The singles surcharge threshold is not indexed if its indexation factor is 1 or less.

             (4)  The indexation factor is:

             (5)  The indexation factor mentioned in subsection (4) is calculated to 3 decimal places (rounding up if the fourth decimal place is 5 or more).

             (6)  The index number for a quarter is the estimate of full‑time adult average weekly ordinary time earnings for the middle month of the quarter first published by the Australian Statistician for that month.