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Annual Taxable Income $ | Tax on Income $ | Tax rate on excess above lower threshold | |
0 to 18,200 | 0 | plus | 0% |
18,201 to 45,000 | 0 | plus | 16% |
45,001 to 135,000 | 4,288 | plus | 30% |
135,001 to 190,000 | 31,288 | plus | 37% |
190,001 plus | 51,638 | plus | 45% |
In addition to the income tax payable Medicare Levy of 2% is payable where a person’s taxable income exceeds a low threshold.
Category | Lower threshold $ |
Families | 43,846 |
Singles | 26,000 |
Single senior and pensioner | 41,089 |
Couple senior and pensioner | 57,198 |
$ | $ | $ | $ | |
Singles | 0-93,000 | 93,001-108,000 | 108,001-144,000 | 144,001 and over |
Families* | 0 -186,000 | 186,001-216,000 | 216,001-288,000 | 288,001 and over |
Rates | 0% | 1% | 1.25% | 1.50% |
The zero rate threshold increases for singles and families by $1500 for every child after the first child.
$ | $ | $ | $ | |
Singles | 0-97,000 | 97,001-113,000 | 113,001-151,000 | 151,001 and over |
Families* | 0-194,000 | 194,001-226,000 | 226,001-302,000 | 302,001 and over |
Rates | 0% | 1% | 1.25% | 1.50% |
The zero rate threshold increases for singles and families by $1500 for every
child after the first child.
Annual Taxable Income $ | Tax on Income $ | Tax rate on excess above lower threshold | |
0 to 120,000 | 0 | plus | 32.5% |
120,001 to 180,000 | 26,000 | plus | 37% |
180,001 plus | 63,000 | plus | 45% |
Annual Taxable Income $ | Tax on Income $ | Tax rate on excess above lower threshold | |
0 to 135,000 | 0 | plus | 30% |
135,001 190,000 | 40,500 | plus | 37% |
190,001 plus | 60,850 | plus | 45% |
Annual Taxable Income $ | Tax on Income $ | Tax rate on excess above lower threshold | |
0 to 135,000 | 0 | plus | 30% |
135,001 190,000 | 40,500 | plus | 37% |
190,001 plus | 60,850 | plus | 45% |
Other income $ | Tax rates |
Nil to 416 | Nil |
417 – 1,307 | Nil + 66% of the excess over $416 |
Over $1,307 | 45% of the total amount of income that is not excepted income |
Excepted income is wages paid at ordinary rates, distributions from child maintenance and testamentary trusts, and taxable pension payments from Centrelink.
Other income $ | Tax rates |
Nil to 416 | Nil |
417 – 1,307 | Nil + 66% of the excess over $416 |
Over $1,307 | 45% of the total amount of income that is not excepted income |
Excepted income is wages paid at ordinary rates, distributions from child maintenance and testamentary trusts, and taxable pension payments from Centrelink.
$ | |
Amount of Offset | 700 |
Taxable Income when offset starts reducing | 37,500 |
Reduction in offset for income over $37,500 5 cents for every $1 above $37,5000 | |
Tax offset at $45,000 | 325 |
Reduction in $325 offset for income over $45,001 1.5 cents for every $1 above $45,001 | |
Taxable income when offset ceases | 66,667 |
Maximum Offset* $ | Shade out Threshold $ | Income at which Offset Cuts Out $ | |
Single | 2,230 | 32,279 | 50,119 |
Couple Each | 1,602 | 28,974 each | 83,580 combined |
Couple (separated due to illness) | 2,040 | 31,279 each | 95,198 combined |
Rebate reduces by 12.5c for each $1 of taxable income above the shade-out threshold Income for couples is the combined income
Eligible spouse contribution tax offset | |
Income level of spouse when maximum tax offset of $540 decreases | $37,000 |
Income level when offset reduces to nil | $40,000 |
Superannuation pension tax offset – Taxed element | 15% |
Superannuation pension tax offset – Untaxed element | 10% |
