The Medicare Levy Surcharge (MLS) is a charge levied on Australian taxpayers who earn over a certain income threshold, and who do NOT have suitable private hospital cover.
The surcharge is currently 1% of taxable income.
The thresholds are:
2010/11 taxation year:
$ 77,000 for singles.
$154,000 for couples and families.
2009/10 taxation year:
$ 73,000 for singles.
$146,000 for couples and families.
This surcharge is designed to try to reduce the demand on the public system, by persuading people to take out private hospital cover.
Those people holding a suitable Health Insurance, do NOT pay the extra 1% Medicare Levy. Â For many people it is cheaper to have the Insurance than to pay the levy. Â It is worth getting a quote.
- Medicare Levy
- Income Tax
- Lifetime Health Cover
- iselect Compare Health Cover Premiums
Sources:
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