The following rates were correct at time of printing.
Please contact our office if you need to confirm any information.
Income Tax Rates
Australian Residents
The following rates for 2018–19 apply from 1 July 2018.
| Australian Residents Tax Rates 2018-2019 | ||
| 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 following rates for 2017–18 apply from 1 July 2017.
| Australian Residents Tax Rates 2017-2018 | ||
| 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 – $87 000 | $3,572 plus 32.5c for each $1 over $37,000 | 32.5% |
| $87,001 – $180,000 | $19,822 plus 37c for each $1 over $87,000 | 37% |
| Over $180,000 | $54,232 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 rates for 2017–18 & 2018-19 apply from 1 July 2017.
| Foreign Resident Tax Rates 2017-2018 | |
| Taxable income | Tax on this income |
| $0-$87,000 | 32.5c for each $1 |
| $87,001-$180,000 | $28,275 plus $37c for each $1 over $87,000 |
| $180,001 and over | $62,685 plus 45c for each $1 over $180,000 |
Foreign residents are not required to pay the Medicare levy.
The Temporary Budget Repair Levy ceased applying from 1st July 2017.
Companies
The following rates apply to companies for the 2017-18 & 2018-19 income year.
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 rates apply from 1 July 2018 - 30 June 2019
| Payroll Tax Rates 2018-2019 | |
| Annual Threshold | $650,000 |
| Monthly Threshold | $54,166 |
| Rate | 4.85%
or 2.425% (regional Victorian employers) |