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A NEW TAX SYSTEM (MEDICARE LEVY SURCHARGE-FRINGE BENEFITS) ACT 1999 - SECT 15
Amount of surcharge if this Division applies for whole
year
The amount of surcharge payable on the person's reportable fringe benefits
total for the year of income is 1% of that total if:
- (a)
- this Division applies to the person for the whole of the year of income;
and
- (b)
- the sum of the following exceeds the family surcharge threshold for the
person for the year of income:
- (i)
- the person's taxable income for the year of income;
- (ii)
- the person's reportable fringe benefits total for the year of income;
- (iii)
- the person's spouse's taxable income for the year of income;
- (iv)
- the person's spouse's reportable fringe benefits total (if any) for the
year of income; and
- (c)
- the sum of the person's taxable income and reportable fringe benefits
total for the year of income is more than $13,389.
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