Over $90K Income in Australia? Avoid This Expensive Medicare Levy Mistake! #Taxtrap

🚨 Key Tax Alert for High Earners in Australia! 🚨 If you're making over $90,000, don't fall for this common tax pitfall: the Medicare Levy Surcharge. Many aren't aware that crossing this income threshold triggers an additional charge, urging you to get private hospital cover. Avoid getting blindsided by this surcharge; even a basic private health policy can save you more than you'd pay in extra taxes. It's vital financial information that isn't commonly taught, but knowing it can save you a significant amount when tax time comes around. Don’t let a rise in income catch you off guard! Plan ahead and consider private health insurance to sidestep this surcharge. #TaxAdviceAustralia #MedicareLevySurcharge #PrivateHealthInsurance #IncomeTaxTips #AustralianTaxSystem
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