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NEWS & EVENTS

BYRONS 

Our office will be closed from the 24th of December and will reopen on the 5th of January.

All the best for the season and for 2009.

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Tax Facts - Medicare Levy

The Medicare Levy is a tax paid by Australian residents to cover health care charges.

The levy is payable on taxable income, and is in addition to your income tax. Individuals and families on higher incomes who do not have an appropriate level of private hospital cover may have to pay the Medicare Levy Surcharge.

The Medicare levy is normally calculated at 1.5 per cent of your taxable income but this rate can vary depending on the individual's circumstances.

You may be exempt from the levy or it may be reduced if you:

  • Have a low income; or
  • Are a prescribed person.

A Medicare Levy Calculator is available at the ATO website to help you calculate your financial obligation.

For more information see the Medicare Levy  Essentials homepage on the ATO website.

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