Single parent health cover - do you earn more than $140,000?
I’m a single parent and earn more than $140,000 a year
If you’re a single parent with an annual taxable income of more than $140,000* and don’t have private health insurance with hospital cover, you may have to pay the Government’s Medicare Levy Surcharge - an additional 1% tax on top of the 1.5% Medicare Levy paid by all taxpayers.
If you do have private health insurance with hospital cover, you can enjoy tax benefits because you won't have to pay the Medicare Levy Surcharge.
So, if your annual taxable income is more than $140,000* you can either:
- Pay the Medicare Levy Surcharge - an additional 1% tax each year
OR - Join Mutual Community single parent health cover with hospital cover, which could actually cost you less than the Medicare Levy Surcharge
Of course, by taking out private health insurance with us you’ll enjoy more than tax benefits - our range of single parent health cover options is designed to suit your needs and offers quality private health insurance, which comes with the added benefit of knowing that you and your family have private health cover you can count on.
 |
Check out our Medicare Levy Surcharge calculator to find out how much you can save at tax time if you take out hospital cover |
|
Find out more about the Medicare Levy Surcharge |
|
I know I am impacted - please show me all your single parent health covers |
|
What have others like me chosen? |
* This is the combined annual taxable income limit for a single parent with one child. Add $1,500 to this amount for each additional child.
