The Medicare Levy Surcharge is an additional 1% surcharge of taxable income imposed on higher income earners who are eligible for Medicare but do not have an appropriate level of hospital cover with a health insurer.
The taxable income thresholds for higher income earners are detailed below.
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Singles
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$77,000*
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Couples/families (0-1 children)
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$154,000*
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Income threshold increases by $1,500 for each dependent child after the first.
To avoid the 1% Medicare Levy Surcharge simply choose any CBHS Hospital Cover.
For more information on the Medicare Levy Surcharge, please contact the Australian Taxation Office on 13 28 61.
Use this simple calculator to find out what Medicare Levy Surcharge you would be liable to pay.
* This amount applies in relation to the 2010-11 financial year, and will be indexed each subsequent year.