Income for Surcharge Purposes

From 1 July 2009 the ATO will change the way income is calculated for various tax offsets and obligations.

Income for surcharge purposes includes your:

  • modified taxable income
  • reportable fringe benefits, as reported on the payment summary
  • total net investment loss
  • reportable super contributions.
The ATO will use your income for surcharge purposes to work out whether you have exceeded the Medicare Levy Surcharge threshold.

For more details go to ==> Changes to Income Tests

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