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I supported Toymods
Location:
Australia
Registered:
November 2003
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Accountants - Medicare Levy
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Tue, 09 August 2005 02:52
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Ok, did my tax on the weekend with ETAX.
Now I've never had anything in the Medicare Levy from memory.
Now this year, I have $892 charge there.
Full time work, full private health cover...
Is this normal?
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I supported Toymods
Location:
Perth
Registered:
May 2002
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Re: Accountants - Medicare Levy
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Tue, 09 August 2005 03:15
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Cehck the help file. It explains all the conditions in some detail.
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Location:
Sydney
Registered:
July 2002
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I supported Toymods
Location:
Australia
Registered:
November 2003
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Re: Accountants - Medicare Levy
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Tue, 09 August 2005 03:25
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Ok, but I do have private health insurance.
So looks like I've filled out the form wrong.
Better double check it.
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I supported Toymods
Location:
Australia
Registered:
November 2003
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Re: Accountants - Medicare Levy
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Tue, 09 August 2005 03:28
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| SupraPete wrote on Tue, 09 August 2005 11:24 |
Didn't see you had private health cover ... go get it done at an accountant. Cost you $100, save you $900.
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Yeah, I'll have another go tonight.
If I can't sort it, I'll get an accountant.
I just wasn't sure if it was a student thing.
This is the first year I haven't been a fulltime student at some stage.
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Location:
Sydney
Registered:
July 2002
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Re: Accountants - Medicare Levy
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Tue, 09 August 2005 03:28
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| CrUZsida wrote on Tue, 09 August 2005 13:25 |
So looks like I've filled out the form wrong.
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I hate forms. I fill my own name out wrong 
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Location:
Sydney
Registered:
July 2002
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Re: Accountants - Medicare Levy
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Tue, 09 August 2005 03:29
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I *just* stopped paying HECS! another $130 a week in my pocket!
no debt is gooood
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Banned user
Location:
Liverpool NSW
Registered:
March 2004
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I supported Toymods
Location:
Australia
Registered:
November 2003
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Re: Accountants - Medicare Levy
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Tue, 09 August 2005 03:46
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Well, $870 works out to 1.5% of my salary, so maybe I'll have to pay it.
DAMMIT
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Location:
Sydney
Registered:
July 2002
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Re: Accountants - Medicare Levy
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Tue, 09 August 2005 03:56
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only if you don't have private health insurance.
serious, go to an accountant. Mine always saves me more than I expect. They know about the little things like uniform washing or claiming home internet for downloading porn, or other work related material.
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I supported Toymods
Location:
Australia
Registered:
November 2003
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Re: Accountants - Medicare Levy
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Tue, 09 August 2005 04:04
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Ok, I thought I read that the Medicare Levy Surcharge was for people who don't have private health insurance.
Will check tonight, and no doubt call the accoutant later.
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I Supported Toymods
Location:
Sydney
Registered:
December 2002
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Re: Accountants - Medicare Levy
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Tue, 09 August 2005 04:15
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Yep theres the medicare levy and the surcharge.
One you can get out of paying by having private health insurance but the other you have to pay regardless.
Theres also a private health insurance rebate that you can either elect to have taken out of your premium or can get back at tax time... make sure you had it taken out of your premium otherwise you can claim it back.
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Location:
sydney,nsw.oz.
Registered:
July 2002
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Re: Accountants - Medicare Levy
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Tue, 09 August 2005 06:48
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| Toobs wrote on Tue, 09 August 2005 14:15 |
Yep theres the medicare levy and the surcharge.
One you can get out of paying by having private health insurance but the other you have to pay regardless.
Theres also a private health insurance rebate that you can either elect to have taken out of your premium or can get back at tax time... make sure you had it taken out of your premium otherwise you can claim it back.
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What he said.
any 1 with a taxable income > 15k pays Medicare Levy.
Surcharge payable if you DONT have Private Health Ins.
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Banned user
Location:
Liverpool NSW
Registered:
March 2004
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Re: Accountants - Medicare Levy
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Tue, 09 August 2005 06:58
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| SupraPete wrote on Tue, 09 August 2005 13:56 |
only if you don't have private health insurance.
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Wrong, the australian tax systems forgives nobody.
muahahahhaha
Like i said in page 1.
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I supported Toymods
Location:
Australia
Registered:
November 2003
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Re: Accountants - Medicare Levy
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Tue, 09 August 2005 07:00
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So pretty much I've got to put aside 1.5% of my pay, just to cover this?
Why the fuck can't they just take it out of my tax every pay?
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Location:
sunny coast, qld
Registered:
October 2002
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Re: Accountants - Medicare Levy
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Tue, 09 August 2005 07:26
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Toobs, FWDcelica and bubbles are right.
There is no point going to an accountant (I am one) as there is no way out of paying medicare levy. If you have a taxable income of approximately $60000 no amount of extra (possibly dodgy) expenses are going to bring you down to a level where no medicare levy is payable.
Not sure why they don’t account for it weekly but usually employers pull a little bit extra PAYG withholding out anyway. That is why, you will most likely have a small refund at the end of the year even if you don’t put any expenses in.
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I supported Toymods
Location:
Australia
Registered:
November 2003
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Re: Accountants - Medicare Levy
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Tue, 09 August 2005 07:31
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Thanks Chris, I was actually waiting for your reply.
The main reason for this post is because I swear I've never paid this before.
Maybe its only been small change over the last few years, so I haven't noticed it.
I guess I can send it off now without worrying. Cheers
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Toymods Social Secretary
Location:
Sydney
Registered:
July 2002
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Re: Accountants - Medicare Levy
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Tue, 09 August 2005 09:20
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Teh witzl = pwn3d by tax for the last 3 tax years 
fucking stupid OLD HECS income limit of pissy $24,300 
I've almost worked my tax out from 2002/2003.... i earned like $26,000 for the year, and so naturally the ATO suddently wanted my HECS debt paid off (despite still being at uni)... URGH!!! So after some devicive thinking, i realised that whilst working AND going to uni i was "self-educated", and entitled to several deductions....
Im going to an accountant ASAP.
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Location:
Sydney
Registered:
February 2003
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Re: Accountants - Medicare Levy
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Tue, 09 August 2005 09:28
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Nothing to do with Medicare, but valuable if you travel.
There is a non contestable amount for out of pocket expenses for every full day you spend away from home with work, even if you have full expenses.
I don't know the amount I think it's about $18.00 per day and more for OS, I use an accountant and am asked to validate my travel only no receipts just flight details, usually total about 3 months each year for the last 15 years.
It ain't much but every bit helps.
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Location:
Hobart, Tas
Registered:
May 2002
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Re: Accountants - Medicare Levy
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Wed, 10 August 2005 05:07
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| CrUZsida wrote on Tue, 09 August 2005 13:46 |
Well, $870 works out to 1.5% of my salary, so maybe I'll have to pay it.
DAMMIT
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You earn 58k a year ?! Whoa.
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Location:
Hobart, Tas
Registered:
May 2002
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Re: Accountants - Medicare Levy
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Wed, 10 August 2005 05:12
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| THE WITZL wrote on Tue, 09 August 2005 19:20 |
Teh witzl = pwn3d by tax for the last 3 tax years
fucking stupid OLD HECS income limit of pissy $24,300
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Yeah, good thing it changed to $35,000 for the last financial year.
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Location:
sunny coast, qld
Registered:
October 2002
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Re: Accountants - Medicare Levy
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Wed, 10 August 2005 05:26
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No probs Cruzsida  I owe you for all the help you have given me 
I have a total hecs debt of $609. Forgot to pay one bloody subject on time!  Can’t wait to finish uni in Feb with basically no debt. I have a lot of friends that are going to have debts of $15k+.
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I Supported Toymods
Location:
Sydney
Registered:
December 2002
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Re: Accountants - Medicare Levy
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Wed, 10 August 2005 12:09
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| suthol wrote on Tue, 09 August 2005 19:28 |
Nothing to do with Medicare, but valuable if you travel.
There is a non contestable amount for out of pocket expenses for every full day you spend away from home with work, even if you have full expenses.
I don't know the amount I think it's about $18.00 per day and more for OS, I use an accountant and am asked to validate my travel only no receipts just flight details, usually total about 3 months each year for the last 15 years.
It ain't much but every bit helps.
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Hmm interesting... I will have to speak to my loophole experts!
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Location:
Northwestern Sydney
Registered:
August 2002
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Re: Accountants - Medicare Levy
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Wed, 10 August 2005 23:38
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Another loop hole I'm going to take advantage of:
I had (last F/Year) a company car under a Novated Lease that I paid for the expenses and was reimbersed at the end of the month by my boss. Having been doing it this way apparently I can also claim the 5000Km threshold on the company car as well for the work related km's I do.
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