Medicare Levy Threshold for Tax Purpose 2017-18


Vision Direct

Are YOU the next winner of a new luxury property?

Sponsor ai1

Australian Medicare Levy Threshold.

The Australian Medicare system is partly funded by taxpayers who pay a percentage of their taxable income as a Medicare levy.

The lower paid are exempt from this levy, and some higher paid are required to pay a higher percentage than others.

2017-2018 Medicare Threshold.

Taxable Income up to $21,980 = No Medicare Levy Payable

Taxable Income between $21,980 and $27,475 = Reduced Medicare Levy payable

Taxable Income over $27,475 = Full 2% Medicare Levy payable


Agoda Hotel Bookings
Sponsor ai10

Taxable Income over $90,000 = Full 2% Medicare Levy + Surcharge payable (up to extra 1.5%)

2017-2018 Medicare Threshold for Seniors.

Taxable Income up to $34,758 = No Medicare Levy Payable

Taxable Income between $34,758 and $43,447 = Reduced Medicare Levy payable

Taxable Income over $43,447 = Full 2% Medicare Levy payable

Taxable Income over $90,000 = Full 2% Medicare Levy + Surcharge payable (up to extra 1.5%)

These higher thresholds are for Seniors and those entitled to the seniors and pensioners tax offset.

Source: www.ato.gov.au

Australian Online Pharmacies and Optical

Sponsor ai3
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments