Do you suffer from these extra tax symptoms?
- Single and have a total taxable income of more than $50,000 per year
- Couple or family and have more than $100,000* combined total, taxable income a year
- Don't have a level of private hospital cover with an Excess of $500 per person or less
If you suffer from any two of these symptoms your Medicare levy increases from 1.5% to 2.5%. Which means, you could be paying a minimum $500 extra in tax per year. And, the more you earn, the more tax you pay.
* Threshold increases by $1,500 per child after the first child
MBF hospital cover is an ideal remedy
By taking out any level of MBF hospital cover with an Excess of $500 or less per person, your Medicare levy drops back to 1.5%. After all, it's your choice really; you can give a minimum of $500 to the tax office, or contribute it towards your MBF hospital cover. Find out just how much extra tax you could be paying.
Of course, MBF hospital cover isn't just good for your financial health - it's also a very positive step for your own physical well-being. With a range of MBF hospital cover options to suit most life stages and budgets, you'll easily find the right one for you. Please be sure to read a copy of the relevant MBF product brochure and MBF Healthcare Cover Guidelines before joining. So come tax time next year, you too could enjoy a tax relief remedy thanks to MBF.
Please be sure to ask your accountant, financial adviser or tax specialist for tax advice in relation to the Medicare levy surcharge.
To ease your extra tax symptoms, visit your local MBF Member Centre, call us on 1300 653 525 or access your corporate health plan online at mbf.com.au/corporate and enter <<cridlands>>, <<healthplan>>.