Drake is an Australian resident who derived assessable income of $120,000 and had $7,000 in deductions in the 2020 year. He is single and does not have any private health insurance. Which of the following statements is true?
A) Medicare levy of $2,400 and Medicare levy surcharge of $1,800
B) Medicare levy of $2,400 and Medicare levy surcharge of $1412.50
C) Medicare levy of $2,260 and Medicare levy surcharge of $1,130
D) Medicare levy of $2,260 and Medicare levy surcharge of $1,412.50
Correct Answer:
Verified
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