Temporary Budget Repair Levy

Levy to apply as follows:

0 - $180,000 Taxable Income 0%
$180,000+ Taxable Income 2% of income in
excess of 180k

Levy to apply for the 2015, 2016 and 2017 years

Expected to impact on approx. 400,000 taxpayers

Combining the TBRL with the increase in medicare levy
from 1.5% to 2% from 1 July 2014 will result in a top
marginal rate of tax of 49% during the 3 year temporary
levy period

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