Taxation Administration Act 1953 - Withholding Schedules 2005 (2004 Budget Changes)
Medicare levy variationsMedicare levy variations
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Medicare levy variations
To claim the Medicare levy adjustment available to some low income earners with dependants, a payee must lodge a Medicare levy variation declaration along with their Tax file number declaration.
Image unavailable in extracted text For instructions on how to work out the Medicare levy adjustment, use the PAYG withholding – Medicare levy adjustment monthly tax table (NAT 1012).
Some payees may be liable for an increased rate of Medicare levy or the Medicare levy surcharge on reportable fringe benefits. These payees can lodge a Medicare levy variation declaration, requiring you to increase the amount to be withheld from payments you make to them.