Glossary beginning with M

Click one of the letters above to go to the page of all terms beginning with that letter.
Maximum contribution base search for term

A limit to the amount of superannuation contributions that an employer is required to provide for an employee.

Medicare levy search for term

An amount payable by most taxpayers to cover some of the cost of the public health system.

Medicare levy surcharge search for term

An extra amount payable by some taxpayers in addition to the Medicare levy. A taxpayer may have to pay the surcharge if they do not have the appropriate level of private hospital cover with a health fund and their Medicare levy surcharge income exceeds the threshold.

MyTax search for term
MyTax is the quick, easy, safe and secure way to lodge online. It's web-based, so you don't need to download anything and you can lodge your tax return on any device - computer, smartphone or tablet.
  • Fact 27

    The Sydney Olympic Games included a team of tax officers who advised visiting athletes of any tax obligations and helped them in reclaiming GST reimbursements for their expenditure during the games.

Asset

An item of value such as property, a car or machinery, or a financial item such as shares or a bank account.

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