help please

[Colindp]

Forgive me, I know this has probably been covered before on this forum but I can't seem to get to grips with the Medicare element. I will be earning $62000 per annum and I am trying to work out what I can expect to take home each month. We fly out to our new life on the 25th I wanted to know so I can determine how much weekly rent I can afford. Thanks....

[kaz101]

Hi Colin,

You need to check the ATO website to see about tax deductions (there is a link in the 'PLEASE READ....' sticky post to a tax calculator).

Going by my husbands employment there were no deductions for Medicare.

However if on a PR visa, you don't take out private health insurance within 12 months then you have to pay a charge when you do take it out. See the health section of of the 'PLEASE READ....' sticky post.

I know Dolly posted about tax that they have had to pay - we are still waiting for our accountant to finish our tax return so we haven't been notified of this yet.

You can calculate your Medicare Levy at:
Tax Tools
to give you an estimate.

Regards,
Karen

[Colindp]

Thanks, I should perhaps have mentioned that I am on a 457 visa, the thing I'm really trying to find out is how much I'll be left with after deductions.

Originally Posted by kaz101

Hi Colin,

You need to check the ATO website to see about tax deductions (there is a link in the 'PLEASE READ....' sticky post to a tax calculator).

Going by my husbands employment there were no deductions for Medicare.

However if on a PR visa, you don't take out private health insurance within 12 months then you have to pay a charge when you do take it out. See the health section of of the 'PLEASE READ....' sticky post.

I know Dolly posted about tax that they have had to pay - we are still waiting for our accountant to finish our tax return so we haven't been notified of this yet.

You can calculate your Medicare Levy at:
Tax Tools
to give you an estimate.

Regards,
Karen

[kaz101]

Originally Posted by Colindp

Thanks, I should perhaps have mentioned that I am on a 457 visa, the thing I'm really trying to find out is how much I'll be left with after deductions.

That's why I've given you the links so that you can work it out since I'm not sure what the difference is for tax purposes with 457 and skilled independent PR (which is what I'm on).

Regards,
Karen

[Dolly]

Originally Posted by kaz101

Hi Colin,

You need to check the ATO website to see about tax deductions (there is a link in the 'PLEASE READ....' sticky post to a tax calculator).

Going by my husbands employment there were no deductions for Medicare.

However if on a PR visa, you don't take out private health insurance within 12 months then you have to pay a charge when you do take it out. See the health section of of the 'PLEASE READ....' sticky post.

I know Dolly posted about tax that they have had to pay - we are still waiting for our accountant to finish our tax return so we haven't been notified of this yet.

You can calculate your Medicare Levy at:
Tax Tools
to give you an estimate.

Regards,
Karen

I posted a couple of weeks ago about what we 'would' have to pay if we hadn't got private health insurance - which we do with Medibank. It actually worked out less than our premiums but we do have the top cover (thanks to OH's work!).

Dolly