1. For the purpose of the Medicare Levy Surcharge, what are reportable superannuation contributions and reportable fringe benefits, and how do these amounts effect the calculation of the Medicare Levy Surcharge?

2. What is Goods & Services Tax (GST) and how does the GST effect the preparation of an income tax return?

3. List and describe the key sources of information and data required to calculate taxable income 
4. country: Australia

Answer rating: 100% (QA)

Part1 The Medicare levy surcharge MLS is levied on Australian taxpayers who do not have an appropriate level of private patient hospital cover and earn above a certain income MLS is designed to encour... View the full answer