Medicare levy to increase from 2.0% to 2.5%

//Medicare levy to increase from 2.0% to 2.5%

Medicare levy to increase from 2.0% to 2.5%

The Medicare levy will be increased from 2.0% to 2.5% of taxable income from 1 July 2019.

Low income earners will continue to receive relief from the Medicare levy through the low income thresholds for singles, families, seniors and pensioners. The current exemptions from the Medicare levy will also remain in place.

Source: 2017/18 Federal Budget, Budget Paper No 2, pp 24-25.

By | 2017-05-14T04:22:21+00:00 May 14th, 2017|Categories: Medicare|Comments Off on Medicare levy to increase from 2.0% to 2.5%

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