What is the Medicare Levy Surcharge? The Medicare Levy Surcharge is a charge some medium and high income earners pay in addition to the Medicare Levy. Like the Medicare Levy, the surcharge is to help pay for the public health system and to encourage those people who can afford it to take out private health […]
Medicare and Health Insurance
Tax Advice: 2021 Tax Return | Increase Your Tax Refund | Superannuation | Tax Deductions | Medicare and Health Insurance
The Medicare Levy
What is the Medicare Levy? Have you ever looked at your Notice of Assessment or a tax refund estimate and seen a line for the medicare levy? Not sure what it is? Don’t worry, you’re not alone and this article has got you covered. For most Australians healthcare is essentially free. If you get sick […]
Getting Married and Taxes: What you need to know for your next tax return
Marriage is an exciting and joyful time, but when it comes tax and marriage, it’s also a source of confusion amongst taxpayers in Australia. At Etax, prospective newlyweds often ask us about the tax implications of getting married. Often, they want to know whether a joint tax return is needed when their relationship status changes […]
Private health insurance rebate tiers to ease health cover confusion
At the beginning of April 2019, private health insurance had a much-needed overhaul. This focused on the introduction of structured health insurance rebate tiers. With confusion growing over what health insurance policies did and didn’t cover, the aim of the new health insurance rebate tiers system is to greatly simplify the process. Making purchasing the […]
Private Health and Your Taxes: “Should I get Private Health Cover?”
There is a lot of debate in the media about the pros and cons of private health insurance. People are asking, “Should I get private health cover?” Opinions about private health cover are changing. Saving on taxes is part of the decision. According to Australian consumer watchdog, Choice, cheaper private health policies that only meet the minimum for […]
Is Your Tax Refund Affected by the New Private Health Rebate Changes?
A very common question from taxpayers this year: What’s the ‘private health insurance liability’ on my tax return?” In short, the private health insurance liability is an amount you have to pay back at tax time if you over-claimed the private health rebate during the year. This stems from the Government’s 2012 changes to the […]
