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AU Tax- Inbuilt worksheet to calculate the number of days not liable for the medicare levy surcharge
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308 votes
Hiya team, we had high hopes but unfortunately we've had to put plans for being able to copy & transfer the Capital Gains Tax(CGT) worksheet down for the intermediary.
We still intend to bring focus to this idea over the longer term but will shift this idea back to Submitted for now until we can begin active development. As soon as there's more word to share I'll be back with an update, here
Vikram Teva Raj
supported this idea
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The medicare levy surcharge is already estimated in the Estimate page of the Individual Tax Return. However, if the client receives a high reportable fringe benefit in one year, it is currently extremely easy to end up having the client sign for a significantly lower tax bill than after the Medicare Levy Surcharge is tacked on by the ATO. I feel having the medicare levy surcharge be automatically applied based on the calculated Income for Surcharge Purposes would really improve the Xero Tax experience and improve accountants' service overall.