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.
The increases take account of movements in the Consumer Price Index (CPI) so that low-income taxpayers generally continue to be exempted from paying the Medicare levy.
The increases are outlined below.
||$36,001 plus $3,306 per dependent child or student
||$36,541 plus $3,356 per dependent child or student
|Single – seniors and pensioners (eligible for SAPTO)
|Family – senior and pensioners
||$46,966 plus $33,06 per dependent child or student
||$47,670 plus $3,356 per dependent child or student
The increase in the thresholds is not linked to the increased rate of Medicare Levy. Given that the increase in the levy is designed to be a new tax to fully fund the National Disability Insurance Scheme (NDIS), we would not expect any change to this position in future years.