Medicare levy
Medicare Levy
The Medicare Levy (pronounced: /ˈmɛdɪkɛər ˈlɛvi/) is a tax that Australian residents pay to cover health care charges. It is a percentage of a person's taxable income, and is in addition to the normal income tax. The levy is used to fund the public health system, Medicare.
Etymology
The term "Medicare Levy" is derived from the name of the Australian public health system, Medicare, and the term "levy", which is a type of tax imposed by the government. The term "Medicare" itself is a combination of "medical" and "care", indicating the purpose of the system. The term "levy" comes from the Middle English "levien", which means to raise or collect.
Related Terms
- Medicare: The public health system in Australia, funded by the Medicare Levy and general taxation.
- Taxable income: The amount of income that is subject to income tax. The Medicare Levy is a percentage of this amount.
- Income tax: A tax imposed on individuals or entities that varies with respective income or profits.
- Public health: The science and art of preventing disease, prolonging life and promoting human health through organized efforts and informed choices of society, organizations, public and private, communities and individuals.
See Also
External links
- Medical encyclopedia article on Medicare levy
- Wikipedia's article - Medicare levy
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