What is the medicare levy surcharge?
The Medicare Levy Surcharge is a tax that applies if your annual income* is over $97,000 as a single (or $194,000 as a couple/family) and you don't hold an appropriate level of hospital cover. It starts at 1% and increases (up to 1.5%) with income growth.
However, if you take out Essentials Silver Plus Hospital Cover or Premium Gold Hospital cover and hold it for the full tax year, you may avoid paying the Medicare Levy Surcharge.
Find out more about Medicare Levy Surcharge
*Income for Medicare Levy Surcharge purposes