Summary
Amends the:
Medicare Levy Act 1986
to increase the Medicare levy low-income threshold amounts for families and the dependent child-student component of the threshold from the 2013-14 financial year;
Income Tax Assessment Act 1936
to ensure outcomes are preserved in relation to tax assessments where taxpayers have self-assessed on the basis of certain announced taxation measures which have been discontinued;
Income Tax Assessment Act 1997
to limit the ability of taxpayers who obtain additional franking credits as a result of ‘dividend washing’ to obtain a tax benefit; and
Income Tax Assessment Act 1936
,
Income Tax Assessment Act 1997
and
Medicare Levy Act 1986
to make technical amendments.