Medicare Levy Surcharge 2006-07
Individuals and families on incomes above the Medicare levy surcharge thresholds, who do not have private patient hospital cover, may have to pay the Medicare levy surcharge (MLS).
The Medicare levy surcharge is in addition to the Medicare levy. It is calculated at the rate of 1% of taxable income (including your total reportable fringe benefits).
For the 2006-07 year, the following thresholds apply:
| No. of Dependent Children or Students | Singles * | Family ** |
| 0 | 50,000 | 100,000 |
| 1 | 50,000 | 100,000 |
| 2 | 51,500 | 101,500 |
| 3 | 53,000 | 103,000 |
| 4 | 54,500 | 104,500 |
| 5 | 56,000 | 106,000 |
| Each additional child | +1,500 | +1,500 |
* Where a single taxpayer has dependants, the income and reportable fringe benefits of the dependants do not count towards the family threshold.
** The surcharge applies to the combined taxable income for MLS purposes and reportable fringe benefits of the taxpayer and their spouse.
This information is for guidance only and is not intended as specific advice to any reader. Professional advice should be obtained before acting on any information contained herein. The publisher accepts no responsibility for loss occasioned to any person or organisation as a result of action or the refrain of action as a consequence of the contents of this publication.