From the 2013-14 income year, the Medicare levy low-income thresholds for families will be increased to $34,367 (up from $33,693 for 2012-13). The additional amount of threshold for each dependent child or student will also be increased to $3,156 for 2013-14 (up from $3,094).
Note that the Medicare levy low-income threshold for individuals will remain at $20,542 for 2013-14 (unchanged from 2012-13) as the threshold has already been increased by more than the growth in the CPI and therefore does not need to be further increased at this time. Likewise, the Medicare levy low-income threshold for Senior Australians is $32,279 for 2013-14 (unchanged from 2012-13). This threshold applies to those entitled to the seniors and pensioners tax offset (SAPTO).
Date of effect – The measure will apply from 1 July 2013.
Source: Budget Paper No 2 [p 15]
[WTB 20, 13/5/14]