What is the latest Income Tax Rates?

Residents

These tax brackets apply to individuals who are Australian residents for tax purposes

Tax rates 2012-13

Taxable   income Tax on   this income
0 –   $18,200 Nil
$18,201   – $37,000 19c for   each $1 over $18,200
$37,001   – $80,000 $3,572   plus 32.5c for each $1 over $37,000
$80,001   – $180,000 $17,547   plus 37c for each $1 over $80,000
$180,001   and over $54,547   plus 45c for each $1 over $180,000

The above rates do not include the Medicare levy of 1.5%

Tax rates 2011-12

The following rates for 2011-12 apply from 1 July 2011.

Taxable   income Tax on   this income
0 –   $6,000 Nil
$6,001   – $37,000 15c for   each $1 over $6,000
$37,001   – $80,000 $4,650   plus 30c for each $1 over $37,000
$80,001   – $180,000 $17,550   plus 37c for each $1 over $80,000
$180,001   and over $54,550   plus 45c for each $1 over $180,000

The above rates do not include the Medicare levy of 1.5%

The above rates do not include the Flood levy

 

 

Foreign   residents

If you are a foreign   resident for the full year, the following rates apply:

Tax rates 2012-13

The following rates   for 2012-13 apply from 1 July 2012.

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

Foreign residents are   not required to pay the Medicare levy.

Tax rates 2011-12

The following rates   for 2011-12 apply from 1 July 2011.

Taxable     income Tax on this     income
0 – $37,000 29c for each $1
$37,001 – $80,000 $10,730 plus 30c for     each $1 over $37,000
$80,001 – $180,000 $23,630 plus 37c for     each $1 over $80,000
$180,001 and over $60,630 plus 45c for     each $1 over $180,000