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Medicare Levy - Beware the Surcharge

Medicare Levy - Beware the Surcharge

5 February 2014

The Medicare Levy Surcharge (MLS) is levied on Australian taxpayers who do not have private hospital cover for themselves and their dependents, and who earn above a certain income. The surcharge aims to encourage people to take out private hospital cover, and where possible, to use the private system to reduce the demand on the public Medicare system.

If you or any of your dependents do not have an appropriate level of private patient hospital cover for any period during the financial year, you may be liable (depending on your taxable income) to pay an additional surcharge of up to 1.5%.

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NSW Land Tax Thresholds for 2014

NSW Land Tax Thresholds for 2014

5 February 2014

Land tax is a tax levied on the owners of land in New South Wales (NSW) as at midnight on the 31 December of each year. Land tax applies to land regardless of whether income is earned from the land.

If you own any property in NSW that is not your principal place of residence as at midnight on 31 December 2013, including a holiday house or unit, you may be liable to pay land tax. 

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Social Media – The New Marketing Tool

Social Media – The New Marketing Tool

5 February 2014

Social media is the fastest adopted communication medium in history. Every day millions of people are tweeting, posting, reading or watching content on social media platforms such as Facebook, Twitter, YouTube, LinkedIn, Instagram, blogs and myriad other sites. 

Never before has a new method of communication had such an immediate impact on the way people live their lives. Social media encourages people to interact with companies, brands and people, and to form online communities by creating, publishing and sharing content.  

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The Importance of Trauma Cover

The Importance of Trauma Cover

5 February 2014

Thanks to modern day treatments, cancer survival rates are on the rise. But can you afford to be treated? 

This article, brought to you by Boyce Financial Services, the financial advisory division of Boyce Chartered Accountants, will help you understand the importance of trauma cover when facing serious illness.

One in two Australians will develop cancer before the age of 85 and one in five will die from the disease, according to a report from the Australian Institute of Health and Welfare (AIHW). But while the incidence of all cancers rose by 27 per cent in the 25 years to 2007, deaths from the disease have actually fallen by 16 per cent. This proves just how far modern medicine has come and the calibre of treatments available to treat the various forms of this illness.

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