FED:Gillard confirms one-off flood levy
CANBERRA, Jan 27 AAP - The federal government will impose a
one-off flood levy of 0.5 per cent for middle-income earners, Prime
Minister Julia Gillard says.
A levy of 0.5 per cent will be applied on taxable income between
$50,001 and $100,000 and a levy of one per cent will be applied on
taxable income above $100,000.
"Anyone earning under $50,000 will not pay the levy," Ms Gillard
told the National Press Club on Thursday.
"In other words it is not like the Medicare levy, which for most
taxpayers applies to all their income - it is like income tax rates
which apply only above certain income levels."