Australian Tax Rates for Resident Adults

/Australian Tax Rates for Resident Adults
Australian Tax Rates for Resident Adults2018-11-07T08:23:51+00:00

Australian Tax Rates for Resident Adults

TAX RATES FOR RESIDENT ADULTS FOR 2019 YEAR

Annual Taxable Income Tax on Income Tax rate on Excess Medicare Levy Total tax rate Payable
0 to $18,200 0 Plus 0% 0% 0%
$18,201 to $37,000 0 Plus 19% 2% 21%
$37,001 to $90,000 $3,572 Plus 32.5% 2% 34.5%
$90,001 to $180,000 $20,797 Plus 37% 2% 39%
$180,000 and above $54,097 Plus 45% 2% 47%

TAX RATES FOR RESIDENT ADULTS FOR 2018 YEAR

Annual Taxable Income Tax on Income Tax rate on Excess Medicare Levy Total tax rate Payable
0 to $18,200 0 Plus 0% 0% 0%
$18,201 to $37,000 0 Plus 19% 2% 21%
$37,001 to $87,000 $3,572 Plus 32.5% 2% 34.5%
$87,001 to $180,000 $19,822 Plus 37% 2% 39%
$180,000 and above $54,232 Plus 45% 2% 47%

TAX RATES FOR RESIDENT ADULTS FOR 2015 AND 2017 YEARS

Annual Taxable Income Tax on Income Tax rate on Excess Medicare Levy Total tax rate Payable
0 to $18,200 0 Plus 0% 0% 0%
$18,201 to $37,000 0 Plus 19% 2% 21%
$37,001 to $80,000 $3,572 Plus 32.5% 2% 34.5%
$80,001 to $180,000 $17,547 Plus 37% 2% 39%
$180,000 and above $54,547 Plus 45%* 2% 47%

* The top tax rate is usually 45% but due to the imposition of the temporary budget repair levy of 2% this resulted in the top tax rate of 47% that applied until June 30, 2017. In addition to income tax the Medicare Levy is also payable. The rate was increased from 1.5% to 2% on July 1, 2014.

 

MEDICARE LEVY THRESHOLDS

2016-2017

Category

Lower Threshold
$

Families 36,541
Singles 21,655
Pension and eligible for the senior and pensioners tax offset 34,244

Families and individuals with taxable income below the lower threshold do not pay Medicare Levy. The lower threshold increases by $3,356 for each dependent child or student.

MEDICARE LEVY SURCHARGE THRESHOLDS

2015, 2016, 2017, 2018

Income Levels

Singles $0-90,000 $90,001-105,000 $105,001-140,000 $140,001 and over
Families * $0-180,000 $180,001-210,000 $210,001-280,000 $280,001 and over
Rates 0% 1% 1.25% 1.50%

The zero rate threshold increases for singles and families by $1500 for every child after the first child.