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Your Medicare Levy Surcharge
$0
Based on your Annual Income Excluding Investment Losses $0, your estimated Medicare Levy Surcharge $0. If you don't have appropriate private health cover.
The Medicare Levy Calculator is a tool designed to help you estimate your Medicare Levy Surcharge based on your Annual Income. Follow the steps below to utilize the calculator effectively:
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Type — Select either single or family.
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Annual Income — Your Annual Income Excluding Investment Losses.
Click on the "Calculate" button to estimate your loan repayment based on the provided financial information.
| Threshold | Base Tier | Tier 1 | Tier 2 | Tier 3 |
|---|---|---|---|---|
| Single Threshold | $97,000 or less | $97,001 to $113,000 | $113,001 to $151,000 | $151,001 or more |
| Family threshold | $194,000 or less | $194,001 to $226,000 | $226,001 to $302,000 | $302,001 or more |
| Medicare levy surcharge | 0% | 1% | 1.25% | 1.50% |
If you have 2 or more children, the family income threshold is increased by $1,500 for every Medicare levy surcharge dependent child after the first child. For example, if you have 3 dependent children, your family income threshold increases by $3,000.
This tool is designed to assist in calculating your total taxable income after factoring in various sources of income and deductible expenses. However, it should not be considered a comprehensive assessment of your total income tax obligations. The calculator is tailored exclusively for Australian resident taxpayers. If you have complex financial situations or are uncertain about certain aspects of your taxes, it is recommended to consult with a qualified tax professional or accountant for personalized advice and verification of your calculations. Should you require further assistance, please consider reaching out to Investax for a professional assessment of your calculation.
