Under the Tax Laws Amendment (Medicare Levy Surcharge Thresholds) Act (No 2) 2008, the income thresholds are indexed each year by using indexation factors calculated for full time adult average weekly ordinary time earnings.
The Australian Taxation Office (ATO) has advised that for the 2010-11 income tax year the income thresholds will be as follows:
• Singles Surcharge Threshold: $77,000
• Family Surcharge Threshold: $154,000 (the family threshold increases by $1,500 for each dependent child after the first).
More Information:
HICA Tax Calculator
HICA Medicare Levy Surcharge
Austrailain Tax Office – 13 28 61.
