Tag Archive: Medicare

Sep 14 2017

Medicare Levy Reduction or Exemption

Australian Low Income Earners can Qualify for a Medicare Levy Reduction or Exemption

If your taxable income is equal to or less than; $21,655 you do not have to pay the Medicare levy.
If you are a senior or pensioner, then that threshold becomes $34,244.

If your taxable income is between $21,655 and $27,068 ($34,244 and $42,805 for seniors and pensioners) then you may be entitled to a Medicare Levy Reduction.
Your Medicare Levy will be calculated at 10% of the difference between your taxable Income and the lower limit (eg: $21,655 or $34,244)

Example Rates..

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Aug 02 2017

Medicare Levy

Australian Medicare Levy

The Medicare Levy is a charge levied on almost all Australian taxpayers to help fund the Australian Medicare system.

The charge is currently 2.0% of taxable income.

There are exemptions to this rebate based on low incomes etc.

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Aug 02 2009

Medicare Levy Surcharge

The Medicare Levy Surcharge (MLS) is a charge levied on Australian taxpayers who earn over a certain income threshold, and who do NOT have suitable private hospital cover. The surcharge, from July 2012 was changed to a variable rate between 1% and 1.5% of taxable income. The thresholds are: 2012/13 Taxation Year $ 84,000 for …

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