Foreign Residents Tax Rates

For financial year ended 30 June 2014 (i.e. 1 July 2013 to 30 June 2014)*

Taxable income Tax on this income
0 to $80,000 32.5 cents for each $1
$80,001 to $180,000 $26,000 plus 37 cents for each $1 over $80,000
$180,001 and over $63,000 plus 45 cents for each $1 over $180,000

* Foreign residents are not required to pay Medicare levy of 1.5%.


For financial year ended 30 June 2015 (i.e. 1 July 2014 to 30 June 2015)**

Taxable income Tax on this income
0 to $80,000 32.5 cents for each $1
$80,001 to $180,000 $26,000 plus 37 cents for each $1 over $80,000
$180,001 and over $63,000 plus 45 cents for each $1 over $180,000

** Foreign residents are not required to pay Medicare levy of 2%. The Temporary Budget Repair Levy is payable at a rate of 2% for taxable incomes over $180,000.


For financial year ended 30 June 2016 (i.e. 1 July 2015 to 30 June 2016)**

Taxable income Tax on this income                                                  
0 to $80,000 32.5 cents for each $1
$80,001 to $180,000 $26,000 plus 37 cents for each $1 over $80,000
$180,001 and over $63,000 plus 45 cents for each $1 over $180,000

** Foreign residents are not required to pay Medicare levy of 2%. The Temporary Budget Repair Levy is payable at a rate of 2% for taxable incomes over $180,000.

 

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28 Jul 2015 © AscendPoint 2015

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Disclaimer

This publication is intended as a general commentary only and does not purport to be comprehensive. It should not be regarded as tax advice and you should not act solely on the information contained herein. Please contact us to further discuss about your circumstances or concerns.

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