SMSF – ATO finalises its position in relation to event-based reporting
After detailed consultation with the self-managed super fund (SMSF) sector, the ATO announced today that its i
On 9 May 2017, the Government announced that the Medicare levy low-income thresholds for singles, families, seniors and pensioners will increase from the 2016-17 income year.
The threshold increases mean that households will not pay the Medicare levy if their taxable income is below a statutory low-income threshold.
The singles threshold will increase to $21,655.
The family threshold will increase to $36,541 plus $3,356 for each dependent child or student.
The single seniors and pensioners threshold will increase to $34,244.
The family threshold for seniors and pensioners will increase to $47, 670 plus $3,356 for each dependent child or student.