What is the Medicare Levy Surcharge, and why do I have to pay it?
Medicare Levy is a tax based on 1.5% of your taxable income each year. Every Australian taxpayer is required to pay the tax. It is your income level that determines the amount of Medicare Levy charged, not the Health Fund you are in. As from 1 July, 2009, and if you are single and your assessable income (including reportable fringe benefits) exceeds $73,000, and you do not have Private Health Insurance with Hospital cover, you will be required to pay a 2.5% Medicare Levy (being1.5%Medicare Levy + 1% Surcharge), of your taxable income. If you are a couple, and your assessable incomes (including reportable fringe benefits) exceeds $146,000, and you do not have Private Health Insurance with Hospital cover, you will both be required to pay a 2.5% Medicare Levy (being1.5%Medicare Levy + 1% Surcharge), of your taxable incomes. 18. Can you claim the Child Care Rebate for me? A: No. Any Child Care Rebate claim being made for the 2007/08 financial year and future years will be made direct from
