I got insurance.
I am usually pretty competent at sorting out my finances, however I'm struggling to find information on the Medicare Levy Surcharge for this situation.
My partner and I both started new jobs this year, so our FY19-20 combined income will be below the cutoff for the Medicare Levy Surcharge, however our FY20-21 will be slightly over the threshold.
My partner has always had (and will continue to have) private health insurance, however I do not.
I cannot find any clear information on ATO's site for the Medicare Levy Surcharge, or their income tax calculators. My understanding is that when submitting our tax as a family, if the income is over the threshold we will pay 1% unless we have private health insurance (i.e. if a couple's income is $180,000+ with no insurance they will pay $1,800+ in surcharge). If you have insurance less than the full year you will pay proportionate to the period without health insurance (i.e. insurance for 6 months = 50% of year so $900 surcharge).
However I cannot find any information on what the impact is if only one partner of a couple holds private health insurance and the other does not. Would the surchage be halved?
If anyone encountered this situation before, or can point out something I'm missing, I would love to hear your thoughts.
I don't particularly feel I need private health insurance, but if it is going to cost us $1800+ my best option is to find a cover.
Thanks for any help!