Medicare Levy Surcharge
Can someone please help me with an excel formula calculating medicare levy surcharge with multiple conditions
Conditions:
Married Yes/No
Private Health Insurance Yes/No
Income Thresholds Single $80,000 Family $160,000
Surcharge rate 1% of taxable income
eg If Single, no health insurance & taxable Income is than $80,000 pa then taxpayer will get charged an extra 1% of taxable income, if single, has health insurance and income than $80,000 pa then no surcharge applies
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