INCREASING THE MEDICARE LEVY LOW-INCOME THRESHOLDS
As of 1 July 2018, the government will increase the Medicare Levy’s low-income thresholds for singles, families, seniors and pensioners for the 2017–18 income year.
WHAT THIS MEANS FOR YOU ?
2016-17 2017-18
Taxpayers entitled to seniors and pensioner tax offset
Individual $34,244 $34,758
Married or sole parent $47,670 $48,385
For each dependent child or
student, add: $3,356 $3,406
All other taxpayers
Individual $21,655 $21,980
Couple/sole parent (family income) $36,541 $37,089