Chris Bowen (Prospect, Australian Labor Party, Assistant Treasurer) Share this | Hansard source

I move:

That this bill be now read a second time.

This 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 threshold in the Medicare levy surcharge provisions will be similarly increased. These changes will ensure that low-income individuals and families will continue to be exempt from the Medicare levy or the Medicare levy surcharge.

The bill will also increase the Medicare levy threshold for pensioners below age pension age to ensure that individuals in this cohort do not have a Medicare levy liability when they do not have an income tax liability.

Those on low incomes are among the most vulnerable Australians—particularly amid this global recession—and the Rudd government is determined to make sure these Australians remain exempt from the Medicare levy.

The amendments will apply to the 2008-09 year of income and later income years.

Full details of the measures in this bill are contained in the explanatory memorandum.

I commend this bill and present the explanatory memorandum.

Debate (on motion by Mr Billson) adjourned.

See this speech in context