Medicare Levy Reduction or Exemption

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

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.

2016-17 Medicare Levy Thresholds.

If your … Read the rest

Temporary Budget Repair Levy 2014-2017

The Temporary Budget Repair Levy – Australian Federal Budget 2014.

As part of the 2014-15 Australian Federal Budget, the Temporary Budget Repair Levy will commence from 1st July 2014 and be in place for three years

This is a levy on high paid earners (over $180,000 per year) only.

The … Read the rest