Post Content follows this advert.
No Medicare Levy if Income under $21,335 for the 2015-16 tax year
Medicare levy reduction for low-income earners
Your Medicare levy is reduced if your taxable income is below a certain threshold and, in some cases, you may not have to pay the levy at all. The thresholds are higher for seniors and pensioners. If your taxable income is above the thresholds, you may still qualify for a reduction based on your family taxable income.
Can I qualify for a Medicare levy reduction?
In 2015-16 you do not have to pay the Medicare levy if your taxable income is equal to or less than $21,335 ($33,738 for seniors and pensioners).
You will pay only part of the Medicare levy if your taxable income is between $21,335 and $26,668 ($33,738 and $42,172 for seniors and pensioners).
How much is the Medicare Levy?
Medicare gives Australian residents access to health care and is partly funded by taxpayers who pay a Medicare levy of 2.0% of their taxable income.