Medicare Levy To Rise

Epping Accountant says Medicare levy  to increase by 2 percent - image
Call Epping accountants W Wen and Co to discuss how the increase in the Medicare levy will affect your taxation obligations – (02) 9871 3429

From 1 July 2014, the Medicare levy for individual resident taxpayers will increase to 2% of taxable income

No change has been proposed to the Medicare levy surcharge which is currently imposed at a rate of 1% to 1.5% (depending on the income levels and marital status of the individual resident taxpayer)

Employees face immediate reduction in their take-home pay

In their first pay packet after 1 July 2014 employees will take-home less as a result of  an increase in the Medicare levy.

Taxable incomeAdditional Medicare levy payable per annumAdditional weekly Medicare levy payable

Call our tax agents and advisors now on (02) 9871 3429 to see how we may assist with your business or personal taxation planning.

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