​​VL Tax & Accounting

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From 1 July 2012, the private health insurance rebate and the Medicare levy surcharge are income tested against three new income thresholds. This means that if you:

 

• have private health insurance, the amount of private health insurance rebate you are entitled to receive is reduced if your income is more than a certain amount

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  • do not have an appropriate level of private patient hospital cover, and your income is more than a certain amount, the rate of Medicare levy surcharge you are charged is increased.

We determine the amount of private health insurance rebate you are entitle to receive when you lodge your tax return. This may result in you receiving a refund or a liability.

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Sections within Income Testing

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• Income thresholds for 2012-13
• Income that is income tested
• Estimating your income
• Who the income test applies to
• What income threshold applies

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