The Medicare levy is currently 2% of Taxable Income, in addition to Income Tax.
If your taxable income is below a certain threshold, your Medicare Levy may be Reduced or Removed.
If your … Read the rest
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, having risen from previous rates of 1% or 1.5%
There are exemptions to this rebate based on low incomes etc.… Read the rest
Medicare provides access to a range of medical services, low cost prescriptions and free care as a public patient in a public hospital.
Medicare is available to eligible Australian residents and some visitors to Australia.
Cover includes:
Free or subsidised treatment … Read the rest
The ATO shows there were 10,912,139 salary and wage earners in the 2016-17 tax year.
Their total salaries and wages came to an average of $59,328, with 50% earning over $49,397 in the year.
The Median income was 83.26% of the average income … Read the rest
A resident taxpayer in Australia who earns $18,200 or under, in the year, will pay NO tax on that income.
If the annual income is $37,000 then the tax payable is $3,572. This is 9.65% of Taxable Income.
At an income of $87,000 … Read the rest
The Australian Tax Office [ATO] has made it clear that people who rent rooms out in their properties need to declare all rental income in their tax return.
It has also been pointed out that people who rent out rooms etc, … Read the rest
A resident taxpayer in Australia who earns $18,200 or under, in the year, will pay NO tax on that income.
If the annual income is $37,000 then the tax payable is $3,572. This is 9.65% of Taxable Income.
At an income of $87,000 … Read the rest
On the 24 Jun 2016. after a week of arguing to the contrary, the Federal Opposition leader Bill Shorten has conceded that the Government is not considering the privatisation of Medicare.
http://www.abc.net.au/news/2016-06-24/bill-shorten-concedes-liberal-government-did-not/7541448
On July … Read the rest
The ATO is requesting details of Insurance Policies for the 2013-14 and 2014-15 years, from most Insurance companies.
This data will be used to compare against tax returns to evaluate which of those 2013-14 and 2014-15 tax returns to investigate.
If an employee does not give you a valid Tax file number declaration within 14 days of starting an employer/employee relationship, you must complete a Tax file number declaration with all available details of the employee and … Read the rest
