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Calculate for the current income year, the Medicare levy and Medicare Levy Surcharge liability for the following resident individuals 1. An unmarried doctor whose taxable
Calculate for the current income year, the Medicare levy and Medicare Levy Surcharge liability for the following resident individuals 1. An unmarried doctor whose taxable income is $110,000. She does not have private patient hospital cover 2 marked 2. A 65-year-old pensioner whose taxable income is 525.000 (2 marks) 3 loe and Mary are married and for the current income year have taxable incomes of $120,000 and $100,000, respectively. love hos private patient henpital cover but Mary does the private cover. (2 marks) 4. Bill and Susan are mamed and for the current income year have taxable incomes of $180,000 and 515,000, respectively. Neither has any private patiunt hospital cover more 5. Sally derived a taxable income of $150,000 during the current income year. She took out private patient hospital cover on 1 Decemberman Additional information Medicare Levy - Taxable income * 2% Surcharge rates for 2019-20 Income for Surcharge Purposes Surcharge Rate Singles Families 0 - 90.000 0 - 18000 0% 90,001 - 105.000 180,001 - 210.000 1% 105.001 - 140.000 210.001 - 250.000 1.255 140,001 - 780001 - 15% op 22 5 Calculate for the current income year, the Medicare levy and Medicare Levy Surcharge liability for the following resident individuals 1. An unmarried doctor whose taxable income is $110,000. She does not have private patient hospital cover 2 marked 2. A 65-year-old pensioner whose taxable income is 525.000 (2 marks) 3 loe and Mary are married and for the current income year have taxable incomes of $120,000 and $100,000, respectively. love hos private patient henpital cover but Mary does the private cover. (2 marks) 4. Bill and Susan are mamed and for the current income year have taxable incomes of $180,000 and 515,000, respectively. Neither has any private patiunt hospital cover more 5. Sally derived a taxable income of $150,000 during the current income year. She took out private patient hospital cover on 1 Decemberman Additional information Medicare Levy - Taxable income * 2% Surcharge rates for 2019-20 Income for Surcharge Purposes Surcharge Rate Singles Families 0 - 90.000 0 - 18000 0% 90,001 - 105.000 180,001 - 210.000 1% 105.001 - 140.000 210.001 - 250.000 1.255 140,001 - 780001 - 15% op 22 5
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