Medicare Levy Threshold 2024-23. Yes, if your income meets the threshold, you’ll pay irmaa even if you have a medicare advantage plan. Use the medicare levy surcharge calculator to find out if you're eligible, or discover how much extra tax you may be paying by not having hospital cover for a full tax year.

These tax rates apply to individuals. The medicare levy is usually 2% of your taxable income, adding to your total tax amount.