Tax & Other Rates

The following rates were correct at time of printing.

Please contact our office if you need to confirm any information.

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Income Tax Rates

Australian Residents

The following are the current Australian Residents Tax Rates

Australian Residents Tax Rates
Taxable income Tax on this income Rates
$0-$18,200 Nil 0%
$18,201 – $37,000 19c for each $1 over $18,200 19%
$37,001 – $90 000 $3,572 plus 32.5c for each $1 over $37,000 32.5%
$90,001 – $180,000 $20,797 plus 37c for each $1 over $90,000 37%
Over $180,000 $54,097 plus 45c for each $1 over $180,000 45%

 

The above rates do not include the:

  • Medicare levy of 2

Foreign residents

These rates apply to individuals who are foreign residents for tax purposes.

The following are the current Foreign Resident Tax Rates

Foreign Resident Tax Rates
Taxable income Tax on this income
$0-$90,000 32.5c for each $1
$90,001-$180,000 $29,250 plus $37c for each $1 over $90,000
$180,001 and over $62,550 plus 45c for each $1 over $180,000

Foreign residents are not required to pay the Medicare levy.

Companies

​The following are the current Company Tax Rates

​Companies includes corporate limited partnerships, strata title bodies corporate, trustees of corporate unit trusts and public trading trusts.

Small Business Entities 27.5%
Otherwise 30%

 

Self Managed Superannuation Funds (SMSF)

​Complying Funds

In Accumulation Phase 15%
In Pension Phase 0%
Non complying Funds 47%

 

Payroll Tax

​The following are the Current Payroll Tax Rates

Payroll Tax Rates
Annual Threshold $650,000
Monthly Threshold $54,166
Rate 4.85%

or

2.425% (regional Victorian employers)

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