Hi everyone!
There are plenty of documents around saying that the Medicare Levy Surcharge (MLS) kicks-in for families with an "income" of $168,001 or more.
But, for this (and other similar government rules that vary according to "income"), what does "income" actually refer to, please? Being from the UK, I'm used to just "gross" and "net". But in Australia the popular expression when negotiating a job seems to be "Fixed Annual Remuneration (FAR)", which also includes what goes straight into a superannuation fund.
In a nutshell, is the "income" being refereed to: "FAR"; "gross income" (FAR excluding superannuation); or "net income".
Thanks!