Rates and allowances set for various types of tax are set out below.
Personal Income Tax Rates
Australian Residents / Sole Traders | |||
Taxable Income | Tax Payable on Income | ||
0 - $18,200 | Nil | ||
$18,001 - $37,000 | 19c for each $1 over $18,200 | ||
$37,001 - $90,000 | $3,572 plus 32.5c for each $1 over $37,000 | ||
$90,001 - $180,000 | $20,797 plus 37c for each $1 over $87,000 | ||
$180,001 and over | $54,097 plus 45c for each $1 over $180,000 | ||
Above rates do not include Medicare Levy of 2%. |
Foreign Residents | |||
Taxable Income | Tax Payable on Income | ||
0 - $90,000 | 32.5c for each $1 | ||
$90,001 - $180,000 | $29,250 plus 37c for each $1 over $90,000 | ||
$180,001 and over | $62,550 plus 45c for each $1 over $180,000 | ||
Foreign Residents are not required to pay the Medicare Levy. |
Working Holiday Makers | |||
Taxable Income | Tax Payable on Income | ||
0 - $37,000 | 15c for each $1 | ||
$37,001 - $90,000 | $5,550 plus 32.5c for each $1 over $37,000 | ||
$90,001 - $180,000 | $22,775 plus 37c for each $1 over $90,000 | ||
$180,001 and over | $56,075 plus 45c for each $1 over $180,000 | ||
Foreign Residents are not required to pay the Medicare Levy. |
Residents under 18 Years Old | |||
Unearned Income | Tax Payable on Income | ||
0 - $416 | Nil | ||
$417 - $1,307 | Nil plus 66% of the excess over $416 | ||
$1,308 and over | 45% of the total amount that is not expected income | ||
Non-Residents under 18 Years Old | |||
Unearned Income | Tax Payable on Income | ||
0 - $416 | 32.5% of the entire amount | ||
$417 - $663 | $135.20 plus 66% of the excess over $416 | ||
$664 and over | 45% of the entire amount |