Treasurer gives tax reassurance

Banks and multinationals will be the only entities paying more tax on July 1, says Treasurer Scott Morrison.

The treasurer says banks and multinationals will be the only entities paying more tax on July 1. (AAP)

Treasurer Scott Morrison says Australians should be reassured only banks and multinationals will be paying more tax from July 1.

Facing concerns over flat wages growth, Mr Morrison said the Medicare levy rise was still two years away and had not yet been presented to parliament, which sits for a fortnight starting next Tuesday.

"The priority is the bank tax. The only entities paying more tax on the first of July will be the banks and multinationals," Mr Morrison told reporters in Canberra on Wednesday.

He believed the 0.5 percentage point Medicare levy rise on all income earners would be welcomed by Australians.

"The feedback is this is an insurance levy for the national disability insurance scheme," he said.

"They now want the government and the parliament to make sure it delivers the right services at the right price to the people who need it."

He said it would be disappointing if parliament did not deal with the Medicare levy legislation "at an early opportunity".