From 1 July 2023, the gross domestic product (GDP) adjustment factor of 6% will apply for the 2023–24 income year. This is used to work out quarterly GST and PAYG instalment amounts. This was announced in the 2023–24 Federal Budget and is law.
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Medicare levy surcharge (MLS) amounts and thresholds to be updated as per the tables in the ‘Resource Attachments’ file.
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On 19 June 2020 , royal assent was received to suspend indexation forGST and PAYG instalments for the 2020–21 income year in response to COVID-19.
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Eligibility for the private health insurance (PHI) rebate is income tested against the PHI income thresholds, which are normally adjusted annually. The annual adjustment will be paused for three years from 2015–16
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