Medicare Guarantee (2024-25 Credit to the Treasury Special Account) Determination (No. 1) 2024
I, Andrew Leigh, Assistant Minister for Competition, Charities and Treasury, make the following determination.
Dated 20 June 2024
Dr Andrew Leigh
Assistant Minister for Competition, Charities and Treasury
Parliamentary Secretary to the 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 2024-25
5 Amount to be credited to the Treasury Special Account
Part 1—Preliminary
1 Name
This instrument is the Medicare Guarantee (2024-25 Credit to the Treasury Special Account) Determination (No. 1) 2024.
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Note: This table relates only to the provisions of this instrument as originally made.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: Expressions have the same meaning in this instrument as in the Medicare Guarantee Act 2017 as in force from time to time—see paragraph 13(1)(b) of the Legislation Act 2003.
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 2024-25
5 Amount to be credited to the Treasury Special Account
Under subsection 7(1) of the Act, $46,000,000,000 is specified as the amount to be credited to the Medicare Guarantee Fund (Treasury) Special Account on 1 July 2024 for the budget year beginning on 1 July 2024.
Note: The Medicare Guarantee Fund (Treasury) Special Account is established by section 6 of the Act.
Overview
The Medicare Guarantee (2024-25 Credit to the Treasury Special Account) Determination (No. 1) 2024, made by Dr. Andrew Leigh, the Assistant Minister for Competition, Charities and Treasury, was introduced to provide clarity and direction regarding the allocation of funds towards the Medicare Guarantee for the financial year 2024-25. Enacted by the Australian Parliament under the authority of the Medicare Guarantee Act 2017, this instrument aims to ensure that a specific amount is credited to the Medicare Guarantee Fund (Treasury) Special Account to support the ongoing operations and improvements of the Medicare system. This determination was necessary to address the need for precise funding allocations as stipulated by the Act, thereby maintaining the integrity and effectiveness of Australia’s healthcare funding framework.
Scope and Application
The Medicare Guarantee (2024-25 Credit to the Treasury Special Account) Determination (No. 1) 2024 applies to the Commonwealth of Australia, specifically to the allocation of funds within the Medicare system for the budget year starting on 1 July 2024. This determination is made under the Medicare Guarantee Act 2017 and provides for the crediting of $46 billion to the Medicare Guarantee Fund (Treasury) Special Account. The fund is established by section 6 of the Act and this determination specifies the amount to be credited to this account for the specified financial year, ensuring the necessary funding is in place to support the Medicare system. The instrument, which commences the day after its registration, aligns with the definitions provided in the Medicare Guarantee Act 2017 and the Legislation Act 2003, ensuring consistency in interpretation and application. This determination is integral to the financial operations of the Medicare system and does not include any stated exclusions or exemptions beyond what is defined in the primary Act.
Key Provisions
The Medicare Guarantee (2024-25 Credit to the Treasury Special Account) Determination (No. 1) 2024 outlines the specific amount that will be credited to the Medicare Guarantee Fund (Treasury) Special Account for the 2024-25 financial year. Section 5 under Part 2 specifies that $46,000,000,000 is to be credited on 1 July 2024. This determination is made under the authority granted by the Medicare Guarantee Act 2017, as noted in Section 3 of the document.
In terms of obligations, the Act imposes a requirement on the Assistant Minister for Competition, Charities and Treasury to ensure the specified amount is credited to the Medicare Guarantee Fund (Treasury) Special Account by the specified date. This involves precise financial administration and adherence to the budgetary allocations outlined in the Medicare Guarantee Act 2017. The definitions provided in the document clarify that expressions such as "the Act" refer to the Medicare Guarantee Act 2017, ensuring that all parties involved have a common understanding of the terms used.
Regarding potential consequences, the document does not explicitly outline offences, penalties, or specific civil or criminal consequences for non-compliance with the determination. However, any breaches of the requirements under the Medicare Guarantee Act 2017 could lead to legal ramifications as stipulated in the primary legislation. The absence of specific penalties in this determination implies that the primary Act would be referred to for such details. It is essential for all involved parties to comply with the financial obligations set out to avoid any adverse legal or financial repercussions.