Medicare Explained (Payee Master File)
Oct 24, 2024
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🎯 Medicare is the second section within the Taxation and Medicare Details Accordion, and is used to define the Medicare Levy options the Payee has selected by returning a Medicare Levy Variation Declaration (NAT 0929).
🎯 Medicare is only available for Tax Treatments Regular and Seniors and Pensioners.
Medicare Levy Surcharge (MLS) is applicable when the Payee, their spouse and dependent children do not have an appropriate level of private patient hospital cover and earn above a certain income.
🎯 Medicare Levy Exemption (MLE) and Medicare Levy Reduction (MLR) are disabled if Tax Free Threshold is not selected or Medicare Levy Surcharge (MLS) is selected.
Medicare Levy Exemption is applicable when the Payee is claiming an exemption from paying the Medicare Levy due to a Medical exemption, the number of Dependants they maintain, being a Foreign resident or not being entitled to Medicare benefits.
🎯 Medicare Levy Exemption (MLE) is disabled if Tax Free Threshold is not selected.
🎯 Medicare Levy Surcharge (MLS) is disabled if Medicare Levy Exemption (MLE) is selected.
🎯 Medicare Levy Reduction (MLR) is disabled if Medicare Levy Exemption (MLE) is set to Full.
Medicare Levy Reduction is applicable when the Payees' or families' taxable income is below a certain threshold.
🎯 Medicare Levy Reduction (MLR) is disabled if Tax Free Threshold is not selected.
🎯 Medicare Levy Surcharge (MLS) is disabled if Medicare Levy Reduction (MLR) is selected.
