Originally posted by occam
thanks Boomer. Does the Medicare levy get calculated on gross or net taxable income. So if your taxable income is zero, do you still pay the Medicare levy ?
Hi,
https://www.ato.gov.au/Individuals/Medicare-levy/ covers it, sort off.
Now, the 64 dollar question, is the levy based on your 42k income! Because that would seem to be the taxable income, even if you don't get it.
And from memory the franking credits cant be used to offset the levy.
HelloU, I have the feeling that you will be way ahead of me on this.
cheers
