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Taxation of Individuals
Personal tax rates excluding the medicare levy (which is usually an additional 1.5%). Non-residents do not pay the Medicare Levy.
|
Taxable Income |
Tax Residents |
Tax Non-residents
|
|
Year to 30 June 2010 |
|
|
|
|
|
|
|
Up to $6,000 |
NIL |
29% |
|
$6,001 - $35,000 |
NIL + 15% |
29% |
|
$35,001 - $80,000 |
$4,350 + 30% |
$10,150 + 30% |
|
$80,001 - $180,000 |
$17,850 + 38% |
$23,650 + 38% |
|
Over $180,000 |
$55,850 + 45% |
$61,650 + 45% |
|
|
|
|
|
Year to 30 June 2011 |
|
|
|
|
|
|
|
Up to $6,000 |
NIL |
29% |
|
$6,001 - $37,000 |
NIL + 15% |
29% |
|
$37,001 - $80,000 |
$4,650 + 30% |
$10,730 + 30% |
|
$80,001 - $180,000 |
$17,550 + 37% |
$23,630 + 37% |
|
Over $180,000 |
$54,550 + 45% |
$60,630 + 45% |
|
|
|
|
|
Year to 30 June 2012 |
|
|
|
|
|
|
|
Up to $6,000 |
NIL |
29% |
|
$6,001 - $37,000 |
NIL + 15% |
29% |
|
$37,001 - $80,000 |
$4,650 + 30% |
$10,730 + 30% |
|
$80,001 - $180,000 |
$17,550 + 37% |
$23,630 + 37% |
|
Over $180,000 |
$54,550 + 45% |
$60,630 + 45% |
|
|
|
|
|
Year to 30 June 2013 |
|
|
|
|
|
|
|
Up to $18,200 |
NIL |
32.5% |
|
$18,201 - $37,000 |
NIL + 19% |
32.5% |
|
$37,001 - $80,000 |
$3,572 + 32.5% |
32.5% |
|
$80,001 - $180,000 |
$17,547 + 37% |
$26,000 + 37% |
|
Over $180,000 |
$54,547 + 45% |
$63,000 + 45% |
|
|
|
|
| Year to 30 June 2014 | ||
| Up to $18,200 | NIL | 32.5% |
| $18,201 - $37,000 | NIL + 19% | 32.5% |
| $37,001 - $80,000 | $3,572 + 32.5% | 32.5% |
| $80,001 - $180,000 | $17,547 + 37% | $26,000 + 37% |
| Over $180,000 | $54,547 + 45% | $63,000 + 45% |
NOTES:
The above rates don't include Medicare Levy, which is applied on a progressive basis at the additional rate of 1.5%, or 2.5% if eligible private health insurance cover is not maintained. There are low income and other full or partial exemptions available.
Non-residents do not pay the Medicare Levy.
2013 - along with the increase in "nil tax" threshold to $18,200, the Low Income Tax Offset "LITO" has been reduced to $445. The combined effect is that no tax is payable up to an income of $20,542.
2014 - The Low Income Tax Offset (“LITO”) full amount in 2013-14 is $445 reducing by 1.5 cents in the dollar, for every dollar of income over $37,000 such that it cuts out at $66,667. The effect is that no tax is payable up to an income of $20,542.
Other Tax Changes for 2013-14
Super guarantee contributions increase to 9.25% from 1 July 2013
Removal of super guarantee upper age limit from 1 July 2013
Superannuation Contribution Caps lift to $35,000 for older Australians - the concessional contributions cap will be lifted to
$35,000 unindexed for people aged 60 and over (up from the current level of $25,000) from 1 July 2013, and
$35,000 unindexed for those aged 50 and over from 1 July 2014
(This is a reversal of the previous commitment to restore the cap to $50,000 for the over 50s from 1 July 2014. The general cap will converge by indexation towards the same figure and is expected to reach $35,000 by the 2018 year.)
