Income Tax Rates
Australian Residents
Income Level
Marginal Tax Rate
$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
Over $180,000
$54,547 plus 45c for each $1 over $180,000
Non-Residents
Income Level
Marginal Tax Rate
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
Low Income Tax Offset
Maximum Offset of $445
Offset phases out at a rate of 1.5% at incomes over $37,000 with the upper limit set at $66,667.
Mature Age Offset
Maximum $500 offset for Australian residents who are age 55 or older before the end of the income tax year.
Offset phases in at a rate of 5% for incomes less than $10,000.
Offset phases out at a rate of 5% for incomes over $53,000 with the upper limit set at $63,000
Medicare Levy
The standard Medicare Levy is 1.5% of your taxable income if your income is above the Medicare Levy Reduction threshold.
Medicare Levy Reduction Thresholds
Individual Income Thresholds
Low Threshold
High Threshold
Eligible for Senior Tax Offset:
$32,279
$37,975
Eligible for Pensioner Tax Offset:
$32,279
$37,975
All Other Taxpayers:
$20,542
$24,167
Family Income Thresholds
Low Threshold
High Threshold
Eligible for Senior Tax Offset:
$46,000
$54,117
All Other Taxpayers:
$33,693
$39,639
Medicare Levy Surcharge
The standard Medicare Levy Surcharge is 1% of your taxable income and reportable fringe benefits if your income is above the Medicare Levy Surcharge thresholds.
Medicare Levy Surcharge Thresholds
Single Threshold:
$84,000
Family Threshold:
$168,000
Education Repayment
HECS-HELP debt Repayment Rate
Taxable Income
Repayment Rate
Below $49,096
Nil
$49,096-$54,688
4%
$54,689-$60,279
4.5%
$60,280-$63,448
5%
$63,449-$68,202
5.5%
$68,203-$73,864
6%
$73,865-$77,751
6.5%
$77,752-$85,564
7%
$85,565-$91,177
7.5%
$91,178 and above
8%
SFSS debt Repayment Rate
Taxable Income
Repayment Rate
Below $49,096
Nil
$49,096-$60,279
2%
$60,280-$85,564
3%
$85,565 and above
4%
Medical Expense Offset
20% tax offset on net medical expenses over $2,120.