News & Publications
Medicare Levy increases
On 1 May 2013, the Government issued a media release announcing increases to the Medicare levy to help fund for DisabilityCare Australia, the national disability insurance scheme.
The Government will increase the Medicare levy by half a percentage point from 1 July 2014. This will take the Medicare levy from 1.5 per cent of taxable income to 2 per cent.
Low income earners will continue to receive relief from the Medicare levy through the low income thresholds for singles, families, seniors and pensioners. The current exemptions from the Medicare levy will also remain in place, including for blind pensioners and sickness allowance recipients.
You can view the media release at:
ABS releases Taxation Revenue statistics
On 30 April 2013, the Australian Bureau of Statistics (ABS) released a publication containing the statistics of taxation revenue collected by all levels of government in Australia, for the periods 2002-03 to 2011-12. The statistics include taxation by all levels of government. Some findings included:
- Commonwealth Government taxation revenue increased 10 percent between 2010-11 and 2011-12, to $317,888 million
- State Government taxation revenue increased 3 percent between 2010-11 and 2011-12, to $59,686 million
- Income taxes levied on individuals comprises 39 percent of total taxation revenue, and income taxes levied on enterprises comprises 19 percent of revenue in 2011-12
You can view the Report at: