A New Tax System (Medicare Levy Surcharge—Fringe Benefits) Act 1999

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This Act implements a New Tax System by imposing Medicare levy surcharge on reportable fringe benefits totals of some employees without private hospital insurance. The Act commences on the day the A New Tax System (Fringe Benefits Reporting) Act 1999 receives Royal Assent.

The Act defines various terms, including "covered by an insurance policy" and "dependant". It also imposes Medicare levy surcharge on individuals with certain types of employment or income above a specific threshold. The amount of surcharge payable depends on the individual's income and whether they have dependants or private patient hospital cover.

The Act applies to residents of Australia, including external Territories. It includes provisions for married couples and individuals with dependants, as well as special rules for certain types of employment, such as defence personnel. The Act also includes an amendment history section that provides information about amendments made to the compiled law.

Overall, this Act aims to introduce a new tax system that targets high-income earners without private hospital insurance.