The Australian Taxation Office (ATO) is the primary tax collection agency in Australia. The ATO is responsible for administering federal taxes and other government programs, including the collection of income tax, goods and services tax, and superannuation contributions. The Tax Authority also provides information and assistance to individuals and businesses on tax-related matters and provides… Read More: Australian Taxation Office and Major Taxes in Australia »

Australia has a progressive tax system, this is to mean that the more income you earn, the more you pay as tax. In other words the tax rate increases as your taxable income increases. Tax brackets show the tax rate you will pay on each portion of your income. Incomes are grouped within a range… Read More: What is the Tax Bracket in Australia? »

The Medicare levy in Australia is an amount you pay in addition to the tax you pay on your taxable income. The Medicare levy helps fund some of the costs of Australia’s public health system known as Medicare. The Medicare levy is 2% of your taxable income. You may get a reduction or exemption from paying the Medicare levy, depending… Read More: What is the Medicare Levy in Australia? »

For most taxpayers in Australia, the Medicare levy is 2% of their taxable income. The Medicare levy surcharge is a separate levy from the Medicare Levy. It applies to taxpayers on a higher income who don’t have private health cover. The most used way to avoid the Medicare Levy Surcharge in Australia is by taking… Read More: Medicare Levy Calculator: How is Medicare Levy Calculated in Australia? »