Medicare Levy Calculator Australia 2024-25
Calculate Australian Medicare Levy (2%) plus Medicare Levy Surcharge (1%-1.5%) for those without private hospital cover and earning over $93,000.
Your Data
Medicare Result
Medicare Levy Surcharge for 2024-25
Come utilizzare Medicare Levy Calculator for Australia 2024-25
Insert your taxable income
Insert your taxable income. The Medicare Levy is 2% of taxable income for most taxpayers. A gradual reduction applies to low incomes below $32,500.
Indicate private health insurance
If you don't have private hospital coverage and earn over $93,000 (single), pay the Medicare Levy Surcharge (1-1.5%). Having health insurance exempts you from the surcharge.
Suggerimenti
- Buy hospital cover before age 31 avoids the Lifetime Health Cover loading, which adds a 2% annual premium for each year over 30.
- Couples and families pay MLS based on combined income, with a family threshold of $186,000 (2024-25).
- Some people earning just above $93,000 discover that private hospital insurance costs less than Medicare.
Domande frequenti
What is the Medicare Levy?
The Medicare Levy is 2% of your taxable income. It helps fund Australia's public health system (Medicare). Most Australian residents pay it, though low-income earners receive a reduction or exemption.
What is the Medicare Levy Surcharge?
The MLS (1%-1.5%) applies if you don't have adequate private hospital cover and earn above $93,000 (singles) or $186,000 (couples/families). It's designed to encourage private health insurance.
Who is exempt from the Medicare Levy?
You may be exempt if your income is below $26,000 (individuals), you are a temporary resident, or you are a foreign national not eligible for Medicare. Certain people also receive a half Medicare Levy.
Does the Medicare Levy apply to all income types?
The Medicare Levy applies to taxable income including salary, business income and investment income. Capital gains may also be included. The PAYG withholding system collects it throughout the year.