How does medicare levy surcharge work

The extras might be worth having from a health perspective but they won't impact on the surcharge. Don't be fooled by marketing material advising you take out health cover before 30 June to avoid the surcharge.

The way the rules work, if your income exceeds the threshold and you don't have appropriate private cover for the whole year, you'll pay the Medicare levy surcharge up to the date you took out the policy. So, if you get near the end of the financial year and you don't have health cover, it's already too late to totally avoid the surcharge this year. You will get a tax saving through avoiding the surcharge but only for the days between taking out the cover and the end of the financial year which could be minimal if you leave it until the end of the year.

You will, of course, get a full tax benefit in the next financial year. If you don't have cover yet, take it out as soon as possible in the tax year. Phone Appointments available. Find an office to book your appointment. What is the Medicare Levy Surcharge? Doesn't everyone pay the Medicare Levy? Do you need to have private hospital cover for the full financial year?

Does everyone in your family need private hospital cover? Are you covered? Still got questions about the Medicare Levy Surcharge? Contact your registered tax agent if you have any specific tax-related questions. If you change location, we'll reset your quote and refresh the page to show you the content, products and pricing relevant to your location. Who needs another card in their wallet?

Download the digital member card and use your phone to tap and claim at a HICAPS terminal for your covered extras services. Skip to main content. What is the Medicare Levy Surcharge? Does the Medicare levy surcharge apply to me? Estimate your MLS cost. Bupa Tax Statement. What is the Medicare Levy Surcharge? How does the Medicare Levy Surcharge work? Frequently asked questions.

What happens if I don't have private hospital cover when I'm 30? Benefits of Bupa. We have agreements with most private hospitals and day surgeries, plus a huge Extras network so you have more choice at an affordable price.