- Date
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13 May 2021
- Chamber
-
House of Representatives
- Status
-
Act
-
Portfolio
-
Treasury
- Summary
-
Amends the:
A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Act 1999
and Medicare Levy Act 1986
to: increase the Medicare levy and Medicare levy surcharge low-income threshold amounts for individuals, families and individual taxpayers and families eligible for the seniors and pensioners tax offset; and increase the phase-in limits as a result of the increased threshold amounts; National Housing Finance and Investment Corporation Act 2018
to expand the objects of the Act to include the National Housing Finance and Investment Corporation improving housing outcomes for Australians by assisting earlier access to the housing market by single parents with dependants; Income Tax Assessment Act 1997
, Social Security Act 1991
and Veterans' Entitlements Act 1986
to provide that annual and lump sum payments made by the Commonwealth to thalidomide survivors are exempt from income tax and do not count as income for the purposes of any income support payments; and Income Tax Assessment Act 1997
to: make disaster recovery grant payments in relation to the storms and floods that occurred in February and March 2021 non-assessable non-exempt income; update the list of deductible gift recipients to include six new entities; and extend the period in which two entities are deductible gift recipients.