My partner and I's combined income is likely to be over 280k this financial year. Is there an upper limit to being able to reduce the Medicare Levy Surchage through the private health insurance rebate?
Thanks
My partner and I's combined income is likely to be over 280k this financial year. Is there an upper limit to being able to reduce the Medicare Levy Surchage through the private health insurance rebate?
Thanks
Hi @Emily_281,
There is no upper limit, tier 3 is $280,001 or more at 1.5% for the 2023 FY.
If you must pay the Medicare levy, you may have to pay the Medicare levy surcharge (MLS) if both:
- you, your spouse and your dependent children do not have an appropriate level of private patient hospital cover
- you earn above a certain income.
If you are unsure if MLS will apply; you can have a look at the appropriate level of private patient hospital cover to check.
No - if you have PHI, then no MLS whatever your income.
Hi @Emily_281,
There is no upper limit, tier 3 is $280,001 or more at 1.5% for the 2023 FY.
If you must pay the Medicare levy, you may have to pay the Medicare levy surcharge (MLS) if both:
- you, your spouse and your dependent children do not have an appropriate level of private patient hospital cover
- you earn above a certain income.
If you are unsure if MLS will apply; you can have a look at the appropriate level of private patient hospital cover to check.
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