If you've heard the Medicare Levy is rising and you're wondering what that means for you — we've done the sums.
The Medicare Levy is a charge paid by most taxpayers to fund our public health system.
It's increasing by 0.5 per cent from July 2019 — up from 2 per cent to 2.5 per cent.
If you're currently exempt from paying the Medicare Levy, you'll still be exempt.
Here's how much extra you'll pay per year:
Here's what else you need to know:
- If you earn less than $21,655 as an individual, you're exempt from paying the Medicare Levy.
- If you earn less than $36,541 as a family, you're exempt. And you can earn an extra $3,356 per child before you're hit with the levy.
- The Government says the $8.2 billion the levy will raise over the next four years will fund the National Disability Insurance Scheme.
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