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 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.

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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)