Medicare Guarantee (2021‑22 Credits to the Special Account No. 1) Determination 2021
I, Josh Frydenberg, Treasurer, make the following determination.
Dated 24 May 2021
Josh Frydenberg
Treasurer
Contents
Part 1—Preliminary
1 Name
2 Commencement
3 Authority
4 Definitions
Part 2—Determination of amount to be credited to the Medicare Guarantee Fund (Treasury) Special Account in relation to 2021‑22
5 Crediting of amounts to the Medicare Guarantee Fund (Treasury) Special Account
Part 1—Preliminary
1 Name
This instrument is the Medicare Guarantee (2021‑22 Credits to the Special Account No. 1) Determination 2021.
2 Commencement
(1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Commencement information |
Column 1 | Column 2 | Column 3 |
Provisions | Commencement | Date/Details |
1. The whole of this instrument | The day after this instrument is registered. | |
Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.
(2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.
3 Authority
This instrument is made under the Medicare Guarantee Act 2017.
4 Definitions
Note: Paragraph 13(1)(b) of the Legislation Act 2003 has the effect that expressions have the same meaning in this instrument as in the Medicare Guarantee Act 2017 as in force from time to time.
In this instrument:
the Act means the Medicare Guarantee Act 2017.
Part 2—Determination of amount to be credited to the Medicare Guarantee Fund (Treasury) Special Account in relation to 2021‑22
5 Crediting of amounts to the Medicare Guarantee Fund (Treasury) Special Account
Under subsection 7(1) of the Act, an amount of $42,518,201,000.00 is specified to be credited to the Medicare Guarantee Fund (Treasury) Special Account on 1 July 2021 for the budget year beginning on 1 July 2021.
Note: The Medicare Guarantee Fund (Treasury) Special Account is the special account established by section 6 of the Medicare Guarantee Act 2017.
Overview
The Medicare Guarantee (2021–22 Credits to the Special Account No. 1) Determination 2021 was enacted in 2021 and is a legislative instrument made under the Medicare Guarantee Act 2017. This Act was introduced to address the need for a reliable and sustainable funding mechanism for Medicare, Australia's universal health care system, ensuring that the system can continue to meet the health needs of Australians into the future. The determination specifies the amount of $42,518,201,000.00 to be credited to the Medicare Guarantee Fund (Treasury) Special Account for the budget year beginning on 1 July 2021. This amount is to be credited on 1 July 2021, providing necessary funds to support the ongoing operations and expansion of Medicare services. The policy objective of this legislation is to ensure that adequate funding is available to maintain and enhance the quality and accessibility of health care services for all Australians.
Scope and Application
The Medicare Guarantee (2021-22 Credits to the Special Account No. 1) Determination 2021 applies to the crediting of a specified amount to the Medicare Guarantee Fund (Treasury) Special Account, established under the Medicare Guarantee Act 2017. The determination sets out the amount to be credited, which is $42,518,201,000.00, effective from 1 July 2021 for the budget year beginning on that date. This Act applies to the Commonwealth of Australia and is made under the authority of the Treasurer, Josh Frydenberg. The Act does not specify exclusions or exemptions, and its application is not extended or restricted through subordinate instruments. The determination is part of a broader legislative framework aimed at ensuring the financial sustainability of Medicare in Australia, affecting the federal government and entities involved in the administration and funding of Medicare services.
Key Provisions
The Medicare Guarantee (2021-22 Credits to the Special Account No. 1) Determination 2021I outlines the crediting of an amount to the Medicare Guarantee Fund (Treasury) Special Account for the budget year starting 1 July 2021. Section 5 of the Determination specifies that $42,518,201,000.00 will be credited on 1 July 2021 (section 5). This amount is to be credited under the authority of the Medicare Guarantee Act 2017, as stated in section 3 of the Determination.
The Act imposes obligations on the entities involved, ensuring that the specified amount is credited to the Medicare Guarantee Fund (Treasury) Special Account as per the Determination. The crediting of the amount must be in accordance with the provisions set out in the Medicare Guarantee Act 2017 and the terms of this Determination. The entities responsible for the implementation of this crediting must adhere to the legal requirements outlined in the Act and the Determination to ensure the proper functioning of the Medicare Guarantee Fund.
Failure to comply with the obligations set out in the Medicare Guarantee Act 2017 and the Determination may result in civil or criminal penalties. The Act provides for penalties for non-compliance, although the specific penalties are not detailed in the Determination. It is essential for entities governed by the Act to ensure they meet their obligations to avoid any potential penalties or legal consequences. The maximum penalties for breaches of the Act may be found in other sections of the Act or in related legislation.