Residents Tax Rates

For financial year ended 30 June 2019 (i.e. 1 July 2018 to 30 June 2019)*

Taxable income Tax on this income
0 to $18,200 Nil
$18,201 to $37,000 19 cents for each $1 over $18,200
$37,001 to $90,000 $3,572 plus 32.5 cents for each $1 over $37,000
$90,001 to $180,000 $20,797 plus 37 cents for each $1 over $90,000
$180,001 and over $54,097 plus 45 cents for each $1 over $180,000

The above rates exclude the Medicare levy of 2% which residents are required to pay.


For financial year ended 30 June 2020 (i.e. 1 July 2019 to 30 June 2020)*

Taxable income Tax on this income
0 to $18,200 Nil
$18,201 to $37,000 19 cents for each $1 over $18,200
$37,001 to $90,000 $3,572 plus 32.5 cents for each $1 over $37,000
$90,001 to $180,000 $20,797 plus 37 cents for each $1 over $90,000
$180,001 and over $54,097 plus 45 cents for each $1 over $180,000

* The above rates exclude the Medicare levy of 2% which residents are required to pay. 


For financial year ended 30 June 2021 (i.e. 1 July 2020 to 30 June 2021)*

Taxable income Tax on this income
0 to $18,200 Nil
$18,201 to $45,000 19 cents for each $1 over $18,200
$45,001 to $120,000 $5,092 plus 32.5 cents for each $1 over $45,000
$120,001 to $180,000 $29,467 plus 37 cents for each $1 over $120,000
$180,001 and over $51,667 plus 45 cents for each $1 over $180,000

* The above rates exclude the Medicare levy of 2% which residents are required to pay.   


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19 Nov 2020 © AscendPoint 2020

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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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