Medicare may be about to set you reaching deeper into your pockets. Are you up for the Medicare Levy Surcharge? This surcharge is additional to the ‘garden variety’ Medicare Levy paid by all eligible Australian tax payers. You will need to cough up the extra dough if you are:

BLOG: Medicare asking for more: a closer look at the levy surcharge

  • From a Reciprocal Health Care Agreement country, including:
    • New Zealand
    • United Kingdom
    • Republic of Ireland
    • Belgium
    • Finland
    • Malta
    • Italy
    • Sweden
    • Netherlands
    • Norway
    • Slovenia
  • Eligible for an Australian Reciprocal Medicare card
  • Earn over the Government-allotted threshold amount for singles or couples and families

Before you factor this extra cost into your budget, there is a way to excuse yourself from paying this additional surcharge. Pop Reciprocal Health Cover on top of your overseas visitor cover. Once the end of financial year hits, a tax statement will be sent your way detailing your Reciprocal Health Cover. On-send this statement to the Australian Tax Office and you should find yourself exempt from paying the Medicare Levy Surcharge.

Is the additional Medicare Levy Surcharge news to you? Or are you unsure how it may affect you? Speak to Ganrid & Associates for some expert advice.