Charlles Andrew Sant 
A one stop bookkeeping, accounting, taxation and advisory service for the small to medium business
 
 
 
 
 

 
 
 
Keeping Balanced Books
 
 
 
 

 

 
 



                 


 

Individual Tax

 

All Links will take you to the ATO Web Page.

Tax Calculators:

               1. Comprehensive Individual Tax Calculator:

 

 

              

Tax rates

Australian residents

 

Tax Rates 2014-15

The following rates for 2014-15 apply from 1 July 2014.

 

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 2%
 
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. 
 

Foreign residents

Foreign residents aren't entitled to the tax-free threshold. Different tax rates apply to income they receive.

The following rates for 2014–15 apply from 1 July 2014.

 

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.
 
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 2013-14

The following rates for 2013–14 applied from 1 July 2013.
 
 

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%.
 

Children

If you are under the age of 18, and receive unearned income (for example, investment income), special rates apply. Refer to Income of individuals under the age of 18.

 

Foreign residents

Foreign residents aren't entitled to the tax-free threshold. Different tax rates apply to income they receive.

The following rates for 2013–14 applied from 1 July 2013.

 

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 2012-13

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

 

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

These rates do not include the Medicare levy of 1.5% or the Medicare levy surcharge.

If you're under 18 and you receive investment or other income you haven't earned through your own efforts (by working for wages, for example) it is taxed at higher rates. This is to discourage adults from diverting their income to their children.

Foreign residents

Foreign residents aren't entitled to the tax-free threshold. Different tax rates apply to income they receive.

If you're a foreign resident for the full income year, these are your tax rates for the 2012-13 income year:

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 1st 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% (read Guide to Medicare levy for more information).

The above rates do not include the Flood levy (read Flood levy information for individuals for more information).

 
 
 

Tax Rates 2010-11

 

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% (read Guide to Medicare levy for more information).

Tax offsets reduce the tax payable. Tax offsets based on taxable income levels apply to a range of circumstances. For more information, read Guide to tax offsets.

 

Children:

If you are under the age of 18, and receive 'unearned' income (for example, investment income), special rates apply. Read Income of individuals under the age of 18.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


trading as
Sant's Business & Management Assistance 
ABN: 30 025 743 531
 
Phone: (02) 9920 3666 or 0410 662 591
email: info@sant.net.au