Cootamundra
92 Cooper Street
(PO Box 201)
Cootamundra
NSW 2590 
       Goulburn
105 Goldsmith Street 
(PO Box 973)
Goulburn
NSW 2580
 

P 1300 885 761   F 1300 885 931   enquiries@dawson.com.au

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Tax Facts - Medicare Levy

The Medicare Levy is a tax Australian residents pay to cover health care charges. It is payable on taxable income, in addition to income tax. Individuals and families on higher incomes who do not have an appropriate level of private hospital cover may have to pay the Medicare levy surcharge.

For the 2014-15 and later income years, Medicare Levy is usually calculated at 2% of taxable income. A reduction in the rate is available for people on low incomes and an exemption is available for people in certain categories.

Medicare Levy Calculator is available on the Australian Taxation Office (ATO) web site to help you work out your obligation.

MORE: See the Medicare Levy Essentials section of the ATO web site.

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Changes to depreciation rules

February 2019

In the lead up to the Federal election in May 2019, the Government has announced several tax changes which may affect your primary production business for the 2019 financial year and beyond. 

ATO News