If you don’t have private hospital cover and your income is above income threshold , you may need to pay medicare levy surcharge(MLS).
In some cases, if you have private health insurance cover and , tax payer won’t to pay Medicare levy surcharge, it’s depending on your income, you may be eligible for private health insurance rebates. This rebate is an amount the government contributes for the cost of your private health insurance premiums for tax payer.
You may get exemption for part or full year but you need to provide information in your tax return.
Depending on your situation, the Medicare levy, the MLS or taxpayers private health insurance rebates may impact the refund which is received from ATO or the tax you owe.
For more information on online tax return 2020, Tax Return 2020, myGov 2020, myTax 2020 or any other tax related matter, please call our professional accountant on 1300 768 284 or you can email us at email@example.com