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A NEW TAX SYSTEM (MEDICARE LEVY SURCHARGE-FRINGE BENEFITS) ACT 1999 - SECT 12
Amount of surcharge for single person without dependants
- (1)
- This Division applies to a person for a period in a year of income if:
- (a)
- the sum of the following is more than $50,000:
- (i)
- the person's taxable income for the year of income;
- (ii)
- the person's reportable fringe benefits total for the year of income; and
- (b)
- during the whole of the period:
- (i)
- the person is not a married person; and
- (ii)
- the person does not have any dependants; and
- (iii)
- the person is not covered by an insurance policy that provides private
patient hospital cover; and
- (iv)
- the person is not a prescribed person.
- (2)
- The amount of surcharge payable on the person's reportable fringe benefits
total for the year of income is 1% of that total if this Division applies to
the person for the whole of the year of income.
- (3)
- If this Division applies to the person for only some of the days of the
year of income, the amount of surcharge payable on the person's reportable
fringe benefits total for the year of income includes the amount worked out
using the formula:
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