Matthew Canavan (Queensland, Liberal National Party) Share this | Hansard source

I move:

That this bill may proceed without formalities and be now read a first time.

Question agreed to.

Bill read a first time.

by leave—I move:

That the provisions of paragraphs (5) to (8) of standing order 111 not apply to the bill, allowing it to be considered during this period of sittings.

I table a statement of reasons justifying the need for this bill to be considered during these sittings and seek leave to have the statement incorporated in Hansard.

Leave granted.

The statement read as follows—

STATEMENT OF REASONS FOR INTRODUCTION AND PASSAGE

IN THE 2016 WINTER SITTINGS

Tax and Superannuation Laws Amendment (Medicare Levy and Medicare Levy Surcharge) Bill

Purpose of the Bill

To ensure that low-income households who did not pay the Medicare levy in 2014-15 will generally continue to be exempt in 2015-16 if their incomes have increased in line with (or by less than) CPI.

Reasons for Urgency

The amendments to the Medicare levy surcharge thresholds apply to tax assessments for the 2015-16 income year and later years and require passage before 30 June 2016 to enable the Australian Taxation Office sufficient time to put in place systems and processes to allow for the efficient administration of the tax system and a smooth roll out of Tax Time 2016.

(Circulated by authority of the Treasurer)

Question agreed to.