Tax Laws Amendment (2006 Measures No. 3) Act 2006 (80 of 2006)

Schedule 6   Tax offset for Medicare levy surcharge (lump sum payments in arrears)

Income Tax Assessment Act 1997

6   Subsection 995-1(1)

Insert:

Medicare levy surcharge means:

(a) an amount (other than a nil amount) of Medicare levy (within the meaning of Part VIIB of the Income Tax Assessment Act 1936) that is payable by you only because of section 8B, 8C, 8D, 8E, 8F or 8G of the Medicare Levy Act 1986; or

(b) surcharge within the meaning of the A New Tax System (Medicare Levy Surcharge - Fringe Benefits) Act 1999.