• Individuals

Individuals

Increase in the Medicare levy

As of 1 July 2019 the Government will increase the Medicare levy by 0.5% from 2.0% to 2.5% of taxable income to ensure the NDIS is fully funded. Not only will the Medicare levy be subject to this increase, but other taxes linked to the top personal tax rate, such as the fringe benefits rate, will also increase.

Personal income tax - Medicare levy low-income thresholds

The Government has announced the annual increase in the Medicare levy for low-income thresholds for singles, families, seniors, and pensioners.

Personal taxation measures

The Government has announced changes to personal taxation measures centred on accelerating HELP debt repayment, and increasing the availability of Higher Education Contribution Scheme HECS eligible courses as the main changes to education.