Becksie Posted May 30, 2013 Share Posted May 30, 2013 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! Link to comment Share on other sites More sharing options...
Petals Posted June 1, 2013 Share Posted June 1, 2013 I would clarify it with the employer as some include super some add super on and there is no hard and fast rules. So each job you have these are the things you need to check. Link to comment Share on other sites More sharing options...
Rupert Posted June 1, 2013 Share Posted June 1, 2013 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! Well it certainly is not net. I have never heard the expression FAR myself. Link to comment Share on other sites More sharing options...
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