medicare_levy: Calculate the amount of medicare levy owed
In thmcmahon/taxFunctions: Income tax functions

Description Usage Arguments Value Examples

Calculate the amount of medicare levy owed

medicare_levy(income, rate = 0.02, taper_rate = 0.1,
  lower_bound_single = 21335, lower_bound_couple = 36001,
  spouse_income = 0, n_children = 0, children_reduction = 3306,
  rel_status = "single")

`income`	Income of the person for whom the levy is being calulated
`rate`	Medicare levy rate
`taper_rate`	How fast should the medicare levy low income reduction taper out
`lower_bound_single`	The start of the taper out of the low income reduction (single)
`lower_bound_couple`	The start of the taper out of the low income reduction (family)
`spouse_income`	Income of the person's spouse
`n_children`	Number of children
`children_reduction`	How much should the lower_bound_couple increase by for each child
`rel_status`	Relationship status, must either be 'single' or 'couple'

Amount of medicare levy owed

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medicare_levy(100000)
medicare_levy(44000, spouse_income = 0, rel_status = 'couple', lower_bound_single = 20896,
              lower_bound,couple = 35261, children_reduction = 3238)