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Medicare surcharge tax 2024 Form: What You Should Know

Use this form to request a reduction in your income-related monthly adjustment.

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Instructions and Help about Medicare surcharge tax 2024

To have access to a great public health care system, most Australians pay an extra tax called the Medicare levy. However, foreign residents and low-wage earners are not required to pay this levy. For example, a single parent with a low income is exempted from paying the Medicare levy. It should be noted that the Medicare levy is different from the Medicare levy surcharge. The surcharge is an additional tax that applies to singles, couples, and families earning above a certain threshold amount. This means that if you have a high income, you will pay both the Medicare levy and the surcharge. However, if you have the appropriate private health insurance, you may not have to pay the surcharge, although you will still be required to pay the Medicare levy.