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erintrotman(I'm new)I'm new
13 July 2023

Hello,


I am in the process of lodging my 2022-2023 tax return and am told that I owe money. When I break down the amount of tax paid through my employment, Medicare levy and HELPS fees it is more than what I paid during the financial year. However, I have had private health insurance at the recommended level for over a year with 750 excess which was recommended.

The breakdown said that $1664 under the medicare levy. Can someone explain why I have this amount under medicare levy when I have private health insurance? I have confirmed with my employer that the amount paid for HELP is correct so I am thinking the issue is around medicare and my health insurance.

Please help

2,636 views
1 replies
2,636 views
1 replies

Most helpful response

Most helpful reply

Glenn4802(Devotee)Devotee
13 July 2023

There are two components to Medicare. The first is the standard levy payable by most people, regardless of whether or not they have private health insurance. Typically this equates to 2% of your taxable income.


The second component is the Medicare levy surcharge, which is only payable by higher income earners who do not have the required private health insurance cover.


It is likely that the $1,664 amount relates to the standard levy. That would be based on a taxable income of around $83,200.

All replies

Most helpful reply

Glenn4802(Devotee)Devotee
13 July 2023

There are two components to Medicare. The first is the standard levy payable by most people, regardless of whether or not they have private health insurance. Typically this equates to 2% of your taxable income.


The second component is the Medicare levy surcharge, which is only payable by higher income earners who do not have the required private health insurance cover.


It is likely that the $1,664 amount relates to the standard levy. That would be based on a taxable income of around $83,200.

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Why am I paying a medicare levy surcharge? | ATO Community