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Increasing the Medicare levy low-income thresholds
On 9 May 2017, the Government announced that the Medicare levy low-income thresholds for singles, families, seniors and pensioners will increase from the 2016-17 income year.
The threshold increases mean that households will not pay the Medicare levy if their taxable income is below a statutory low-income threshold.
The singles threshold will increase to $21,655.
The family threshold will increase to $36,541 plus $3,356 for each dependent child or student.
The single seniors and pensioners threshold will increase to $34,244.
The family threshold for seniors and pensioners will increase to $47, 670 plus $3,356 for each dependent child or student. |
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