Medicare Levy and Surcharge for 2011-12


Medicare Levy & Surcharge for 2012:

Medicare Levy:

The general rate of the Medicare levy is 1.5% of taxable income, subject to exclusions and reduced levy as per table below:
Taxpayer type
No Levy if income is less than
Single  (no dependent children):
$18,839
Couple with combined income or sole parent:

0 dependents
$31,789
Each additional dependent  child
$31,789 +$ 2,919 for each additional dependent

Medicare Levy Surcharge:

The general rate of the Medicare levy Surcharge is 1% of taxable income, subject to exclusions as per table below:
Taxpayer type
No Levy if income is less than
Single or couple with full year Hospital Cover
Exempt
Single  (no dependent children):

$80,000
Couple with combined income (no children)

$160,000
Couple or single parent with dependent children
$160,000 + $1,500 each child


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