Income Tax Assessment Act 1936

PART VIIB - MEDICARE LEVY AND MEDICARE LEVY SURCHARGE  

SECTION 251VA   SUBSECTION 251U(3) NOT TO APPLY FOR MEDICARE LEVY SURCHARGE  

251VA(1)   [ Application ]  

This section applies to a person, whether or not the person is a person to whom section 251V applies, during a period if, apart from this section, the person would be taken under subsection 251U(3) to be a prescribed person during one-half of the period.

251VA(2)   [ Calculating increase payable ]  

For the purposes of working out the amount of the increase in the Medicare levy (if any) payable by:

(a) the person under section 8B , 8C or 8D of the Medicare Levy Act 1986 ; or

(b) a trustee under section 8E , 8F or 8G of that Act in relation to a share of the net income of the trust estate to which the person is presently entitled;

the person is taken not to be a prescribed person during the whole of the period.