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Dianne Kennedy

Member Since June 2013

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Dianne Kennedy answered this question

Do I need health insurance to save on paying tax?

Hello Ananda, If you do NOT have private health insurance and you are over a certain level of income you will be levied Medicare Levy Surcharge. Medicare Levy Surcharge is currently 1%, 1.25% or 1.5% depending on your income for Medicare Levy Surcharge purposes. Medicare Levy is charged to all Australian tax payers with income over a certain amount. You are best to consult with your accountant or the ATO to see what your liability is for both Medicare Levy charges.

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Dianne Kennedy answered this question

Do I need health insurance to save on paying tax?

Hello Ananda, If you do NOT have private health insurance and you are over a certain level of income you will be levied Medicare Levy Surcharge. Medicare Levy Surcharge is currently 1%, 1.25% or 1.5% depending on your income for Medicare Levy Surcharge purposes. Medicare Levy is charged to all Australian tax payers with income over a certain amount. You are best to consult with your accountant or the ATO to see what your liability is for both Medicare Levy charges.