Exemption from Medicare levy
Jun 28th 2005, 10:12 am
#1
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Exemption from Medicare levy
Does anyone have an exemption from paying medicare levy?
Do you have to pay it through the year and then claim it as a tax refund? Or does your employer reduce your tax rate to make allowance for you not having to pay it?
Thanks
Do you have to pay it through the year and then claim it as a tax refund? Or does your employer reduce your tax rate to make allowance for you not having to pay it?
Thanks
Jun 28th 2005, 10:15 am
#2
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Re: Exemption from Medicare levy
Originally Posted by MarkandJulie
Does anyone have an exemption from paying medicare levy?
Do you have to pay it through the year and then claim it as a tax refund? Or does your employer reduce your tax rate to make allowance for you not having to pay it?
Thanks
Do you have to pay it through the year and then claim it as a tax refund? Or does your employer reduce your tax rate to make allowance for you not having to pay it?
Thanks
http://www.ato.gov.au/individuals/co...tent/40501.htm
Any adjustment would normally be calculated in the annual Tax return, after June 30th, and not during the year.
Jun 28th 2005, 10:19 am
#3
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Re: Exemption from Medicare levy
Originally Posted by ABCDiamond
Unlikely to apply to many people.
http://www.ato.gov.au/individuals/co...tent/40501.htm
Any adjustment would normally be calculated in the annual Tax return, after June 30th, and not during the year.
http://www.ato.gov.au/individuals/co...tent/40501.htm
Any adjustment would normally be calculated in the annual Tax return, after June 30th, and not during the year.
Thanks ABC Diamond,
We do qualify for the "Exemption Certificate" - just didn't understand if the exemption came through the weekly pay packet or a year end reduction. I suppose it will all become apparent when I receive my tax pack.
Do most people (with no unusual circumstances) prepare their own tax return or is it usually necessary for everyone to use a tax agent? Never had to do a tax return in UK, so not sure what to expect
Jun 28th 2005, 10:30 am
#4
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Re: Exemption from Medicare levy
Originally Posted by MarkandJulie
Thanks ABC Diamond,
We do qualify for the "Exemption Certificate" - just didn't understand if the exemption came through the weekly pay packet or a year end reduction. I suppose it will all become apparent when I receive my tax pack.
Do most people (with no unusual circumstances) prepare their own tax return or is it usually necessary for everyone to use a tax agent? Never had to do a tax return in UK, so not sure what to expect
We do qualify for the "Exemption Certificate" - just didn't understand if the exemption came through the weekly pay packet or a year end reduction. I suppose it will all become apparent when I receive my tax pack.
Do most people (with no unusual circumstances) prepare their own tax return or is it usually necessary for everyone to use a tax agent? Never had to do a tax return in UK, so not sure what to expect
However, it isn't as difficult as it may sound.
My advice would be to get an agent to do it the first year, then have a try yourself the next year, if you feel capable. If you get stuck, you can always go back to the agent
Jun 28th 2005, 10:33 am
#5
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Re: Exemption from Medicare levy
Actually I just checked it, and you can get a certificate from the ATO, to get the employer to deduct the correct figures, taking into account the M/L exemption.
Jun 29th 2005, 1:32 am
#6
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Joined: Mar 2003
Location: Wickedy WA WA...
Posts: 1,868
Re: Exemption from Medicare levy
Originally Posted by MarkandJulie
Thanks ABC Diamond,
We do qualify for the "Exemption Certificate" - just didn't understand if the exemption came through the weekly pay packet or a year end reduction. I suppose it will all become apparent when I receive my tax pack.
Do most people (with no unusual circumstances) prepare their own tax return or is it usually necessary for everyone to use a tax agent? Never had to do a tax return in UK, so not sure what to expect
We do qualify for the "Exemption Certificate" - just didn't understand if the exemption came through the weekly pay packet or a year end reduction. I suppose it will all become apparent when I receive my tax pack.
Do most people (with no unusual circumstances) prepare their own tax return or is it usually necessary for everyone to use a tax agent? Never had to do a tax return in UK, so not sure what to expect
I had to claim back some business mileage and that was all straight forward, I got a refund from them within a week or so.
Its just common sense really, nothing to stop you downloading it and having a go yourself, it you get stuck and want an agent to do it, you havent lost anything other than a bit of time and a few days to get any refund.
Im sure you'll be fine.
Steve
