Consultation on a proposed 2023–2024 Budget measure that would exempts eligible lump sum payments in arrears from medical levy
The government launched a consultation on a proposed 2023–2024 Budget measure that would exempts eligible lump sum payments in arrears from the medicare levy from 1 July 2024.
According to the measure’s explanatory materials, it is intended to prevent low-income taxpayers from paying higher amounts of the medicare levy as a result of receiving an eligible lump sum payment (e.g., as compensation for underpaid wages).
According to Treasury, to qualify for relief, taxpayers must:
The consultation closes on 23 April 2024.