ExcelBanter - Medicare Levy Surcharge

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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

Quote:

Originally Posted by Bealey (Post 1601062)

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

Dear Bealey, Good Morning.

I did an example to you.
It´s attached.

Take a look and tell me if it worked for you.
It´s a unique and simple formula.
I used only IF´s functions.

Have a nice day.

Thank you so much for file. It was fantastic.