The Government will increase the Medicare levy low income thresholds to $16,284 for individuals and $27,478 for families, with effect from 1 July 2005. The additional amount of threshold for each dependent child or student will also be increased to $2,523. The increase in the thresholds takes into account movements in the Consumer Price Index and ensures that low income families and individuals are exempt from paying the levy.
The Medicare levy low income threshold for pensioners below age pension age will also be increased. From 1 July 2005, the threshold will rise to $19,583. This will ensure that pensioners below age pension age do not pay the Medicare levy while they do not have an income tax liability.
For a copy of the Assistant Treasurer's press release No 24, 9 May 2006, go here