TAX RATES 2016-17
The following rates applied from 1st July 2016 and have remained the same for 2018 financial year.
RESIDENTS
| 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 |
NOTE: The above rates do not include Medicare levy which is an additional 2% on taxable income (from July 2014).
FOREIGN RESIDENTS
| Taxable Income | Tax on this income |
| $0 – $87,000 | 32.5c for each $1 |
| $87,000 – $180,000 | $28,275 plus 37c for each $1 over $87,000 |
| $180,001 and over | $62,685 plus 45c for each $1 over $180,000 |
NOTE: Foreign residents are not required to pay the Medicare levy.
Further information:
ATO site
► Individual Income Tax Rates
► Medicare levy
► Medicare levy surcharge