Logo
                > Home   > Reference Home

Medicare & Other Levies  


Medicare & Other Levies

How much is the Medicare levy

The Medicare levy was introduced in February 1984 at 1.00% of assessabel income and has been increased as shown in the next table:

From Medicare Levy %
February 1984 1.00% i.e. 0.416 for 2083-84
December 1986 1.25%
1 July 1993 1.40%
1 July 1995 1.50%
1 July 1996 1.70%
1 July 1997 1.50%
1 July 2014 2.00%

The temporary increase in 1996-97 was to fund the gun buy back scheme.

Flood Levy

The Flood levy applied to assessable income in the 2011-12 year to fund disaster relief:

Taxable Income (TI) Levy
$0 to $50,000Nil
$50,001 to $100,0000.5% x (TI -50,000)
More than $100,000$250 + 1% x (TI - 100,000)

Budget Repair Levy

The Budget Repair Levy applies from 1 July 2014 for the 2014-15, 2015-16 and 2016-17 years. The levy is payable at the rate of two per cent for each dollar of a taxpayer's taxable income over $180,000.


NetActuary P/L ABN 94108585164
3/19a Hunter Street, Hobart Tas 7000
PO Box 750, Sandy Bay Tas 7006
Email: Brian@NetActuary.com.au
Direct Telephone: (03) 6234 8890