Perks- Focussed, Client-driven Accounting & Financial Services Firm in South Australia & Northern Territory

Budget 2008-09: Medicare Levy Surcharge Thresholds

21.10.08

The Government’s Bill to increase the Medicare levy surcharge thresholds has been rejected by Parliament.

However, the Government has introduced another Bill seeking to once again increase the Medicare levy surcharge thresholds:

for individuals it will rise from $50,000 to $75,000; and
for families it will rise from $100,000 to $150,000.

The increase to the thresholds is still proposed to apply from the 2008/09 income year.

Tax Office Eyes Overdue Tax Lodgments
The Tax Office is eyeing companies, trusts, partnerships and individual taxpayers which have overdue income tax returns.

Tax Scams On Tax Office Radar
The Tax Office has recently highlighted the emergence of new tax schemes, warning taxpayers to be vigilant.

Education Tax Refund - Claims Check
The Tax Office will be data-matching with Centrelink to identify recipients who may be incorrectly claiming the education tax refund.

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