The (actual) amount payable for the Medicare levy.
medicare_levy(income, fy.year = "2013-14", Spouse_income = 0, sapto.eligible = FALSE, sato = NULL, pto = NULL, family_status = "individual", n_dependants = 0, .checks = TRUE)
| income | The taxable income. A vector of numeric values. |
|---|---|
| fy.year | The financial year. A character vector satisfying |
| Spouse_income | The spouse's adjusted income. |
| sapto.eligible | (logical) Is the taxpayer eligible for SAPTO? See Details. |
| sato | Is the taxpayer eligible for the Senior Australians Tax Offset? |
| pto | Is the taxpayer eligible for the Pensions Tax Offset? |
| family_status | What is the taxpayer's family status: family or individual? |
| n_dependants | Number of children dependant on the taxpayer. |
| .checks | Should checks of certain arguments be made? Provided to improve performance when checks are not necessary. |
The Medicare levy payable for that taxpayer.
The Medicare levy for individuals is imposed by the Medicare Levy Act 1986 (Cth).
The function only calculates the levy for individuals (not trusts).
It includes the s 7 Levy in cases of small incomes, including the differences for those
eligible for sapto.
s 8 Amount of levy---person who has spouse or dependants (though the number of dependants
is not a variable in the sample files).
The function does not include the Medicare levy surcharge; it assumes that all persons (who would potentially be liable for it) avoided it.#'
The Seniors and Pensioners Tax Offset was formed in 2012-13 as an amalgam of the Senior Australians Tax Offset and the Pensions Tax Offset.
Medicare rates before 2012-13 were different based on these offsets.
For most taxpayers, eligibility would be based on whether your age is over the pension age (currently 65).
If sato and pto are NULL, sapto.eligible stands for eligibility for the sato and not pto.
If sato or pto are not NULL for such years, only sato is currently considered.
Supplying pto independently is currently a warning.
See http://classic.austlii.edu.au/au/legis/cth/consol_act/mla1986131/ for the Medicare Levy Act 1986 (Cth).