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Found 7 results

  1. I hope someone can help me... I am on a 457 visa, British, have not applied for PR. Do I need to pay the Medicare levy (not surcharge, I am under the threshold anyway)? I was under the assumption I do not and have completed my tax return each year to say so. But then I get a letter from ATO saying my tax return is incorrect. I am very confused and worried all my tax return refunds will be taken back. This website indicates I may be able to apply for an exemption under the temporary visa / reciprocal health agreement - https://www.humanservices.gov.au/individuals/services/medicare/medicare-entitlement-statement Can any one help me with this?
  2. I have received an ATO demand for the Medicare levy - is it normal for most Australian taxpayers to pay this as a lump sum after submitting their tax return? I assumed it would be deducted from my pay via PAYE (though I work for a large bank so I assume our payroll know what they are doing). This is my first full tax year as a resident. No objection to paying it - but I don't want to be paying it twice over! Note this is about the levy, not the surcharge (which I don't have to pay as our income isn't high enough). Also we are thinking of selling our UK house, which I bought in 1999 and lived in it until Sept 2009, when I came to Aus. It is now let to tenants. I have had it confirmed by HMRC in the UK that there will by no UK capital gains liability if we sell it within 3 years of leaving OR have five full UK tax years after leaving the UK before selling. So if we sell before Sept 2012 we are OK - but what is the situation with the ATO concerning CGT? I assume any liability would only be on any increase in value since 2009 (which would be slight in any event...). Thanks Alex
  3. I'm on a 457 visa. I currently have no private healthcare insurance as have the reciprocal medicare health care so choose not to. I do however earn just over $100k so it may make sense for me to get some kind of healthcare if it will cost in the region of $1000(-+500) for the year and can avoid the medicare levy SURCHARGE of 1%. So I either want some extra cover as compared to medicare or a saving on the surcharge so I get some more cash in the pocket. I did look into this at one point but found it hard to find a policy I could get as a non permanent resident that wasn't in excess of $2000. I also believe that the 30% govemnet rebate is not applicable as a non PR. Correct? So does anyone have any experience on this? nib seems to offer the 'basic saver' policy that is advertised as avoiding the MLS for $955. Last time I spoke to them I couldn't get a straight answer if it was suitable for me however and said I may also need the overseas cover provided by IMAN. I also can't work out if that actually gives me anything useful in addition to the reciprocal medicare. Also if I got this this financial year and paid for the whole year going forward could that be offset against this years MLS or is it prorated for the cover period in this financial year? Thanks.
  4. RachelS

    Medicare Levy Exemption

    Hi All - does anyone know if when you're on a 457 with a reciprocal Medicare card if you're able to claim any exemption from the Medicare Levy? I've read up on the ATO website (says if you're not an Australian Resident you may be exempt) & on the Medicare exemption form (says you can claim if you don't hold a permanent visa - but there's a note that if you came from the UK prior to Aus then you may not be eligible). Does anyone have any practical knowledge of this - has anyone done it? I would think that as we're temporary & hold reciprocal cards that in theory they'd charge the UK for any healthcare costs anyway - but I'm going round in circles now! :err: We've got private medical insurance anyway so aren't liable for the surcharge but I'd like to find out about the standard medicare levy. Cheers guys Rachel
  5. Guest

    Medicare Levy Surcharge

    Hello, Does anyone know how much you may if you don't have Medical Insurance? We cancelled ours in March this year. Thanks Chloe
  6. Guest

    Medicare Levy Surcharge

    I have read most threads on this subject but am still unclear (how many threads start like this ). I have got platinum health insurance with HBA which states MLS = not exempt. My company arranged and pay for this insurance so i didn't get a say in it. I rang HBA and they said with my level of cover i do not need to use Medicare services? This can't be right can it? But even so, just because i don't use medicare or even register for Medicare doesn't mean i am not liable to pay the 1.5% levy and additional 1% surcharge does it?? plus is the 1% on any income above 73k or entire salary?
  7. In the recent budget the Oz government increased the level at which the Medicare levy surcharge (1%) kicks in to $100K for singles & $150K for couples, good news for any one on above average earnings.
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