Medicare Levy Threshold Revised!

Medicare Levy Thresholds 2019-20

The Medicare levy low income thresholds for singles, families and ensioners for the 2020 income year, are as follows:

• The threshold for singles will be increased from $22,398 to $22,801.
• The family threshold will be increased from $37,794 to $38,474.
• The threshold for pensioners will be increased from $35,418 to $36,056.
• The family threshold for seniors and pensioners will be increased from $49,304 to $50,191.

For each dependent child or student, the family income thresholds increase by a further $3,533, up from the previous amount of $3,471.
The legislation to make the above changes to the Medicare levy low-income thresholds has already been passed and received Royal Assent.