Jan McLucas (Queensland, Australian Labor Party, Parliamentary Secretary to the Minister for Health and Ageing) Share this | Hansard source

I thank Senator Colbeck and other senators for their contribution to the debate on the Tax Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill 2008. The bill will increase the Medicare levy low-income thresholds for individuals and families in line with increases in the consumer price index. The low-income thresholds and the Medicare levy surcharge provisions will similarly be increased. These changes will ensure that low-income individuals and families will continue to be exempt from the Medicare levy or surcharge. I note that indexation of the Medicare levy has enjoyed bipartisan support for a number of years. The bill will also increase the Medicare levy threshold for pensioners below age pension age to ensure that where these pensioners do not have an income tax liability they will also not have a Medicare levy liability. The amendments will apply to the 2007-08 year of income and later income years. Again, I would like to thank Senator Colbeck for his contribution. I commend the bill to the Senate.