Tax Rates

Tax rates 2017-2018

The following rates for 2017-2018 apply from 1 July 2017.

Taxable income

Tax on this income

0 – $18,200

Nil

$18,201 – $37,000

19c for each $1 over $18,200

$37,001 – $87,000

$3,572 plus 32.5c for each $1 over $37,000

$87,001 – $180,000

$19,822 plus 37c for each $1 over $87,000

$180,001 and over

$54,232 plus 45c for each $1 over $180,000

The above rates do not include the Medicare levy of 2%

The above rates do not include any Medicare levy surcharge

The above rates do not include the Temporary Budget Repair Levy.

The Temporary Budget Repair Levy is payable at a rate of 2% for taxable incomes over $180,000.

Tax rates 2016-2017

The following rates for 2016-2017 applied from 1 July 2016.

Taxable income

Tax on this income

0 – $18,200

Nil

$18,201 – $37,000

19c for each $1 over $18,200

$37,001 – $87,000

$3,572 plus 32.5c for each $1 over $37,000

$87,001 – $180,000

$19,822 plus 37c for each $1 over $87,000

$180,001 and over

$54,232 plus 45c for each $1 over $180,000

The above rates do not include the Medicare levy of 2%

The above rates do not include any Medicare levy surcharge

The above rates do not include the Temporary Budget Repair Levy.

The Temporary Budget Repair Levy is payable at a rate of 2% for taxable incomes over $180,000.

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