Income Tax Rates
Australian Residents
Income Level
Marginal Tax Rate
0 - $6,000
Nil
$6,001 - $37,000
15c for each $1 over $6,000
$37,001 - $80,000
$4,650 plus 30c for each $1 over $37,000
$80,001 - $180,000
$17,550 plus 37c for each $1 over $80,000
$180,001 and over
$54,550 plus 45c for each $1 over $180,000
Non-Residents
Income Level
Marginal Tax Rate
0 - $37,000
29c for each $1
$37,001 - $80,000
$10,730 plus 30c for each $1 over $37,000
$80,001 - $180,000
$23,630 plus 37c for each $1 over $80,000
$180,001 and over
$60,630 plus 45c for each $1 over $180,000
Low Income Tax Offset
Maximum Offset of $1,500
Offset Phases out at a rate of 4% at incomes over $30,000 with the upper limit set at $67,500.
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:
$30,685
$36,100
Eligible for Pensioner Tax Offset:
$30,439
$35,810
All Other Taxpayers:
$18,839
$22,163
Family Income Thresholds
Low Threshold
High Threshold
Eligible for Senior Tax Offset:
$44,499
$52,352
All Other Taxpayers:
$31,789
$37,398
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:
$77,000
Family Threshold:
$154,000
Education Repayment
HECS-HELP debt Repayment Rate
Taxable Income
Repayment Rate
Below $44,912
Nil
$44,912 - $50,028
4%
$50,029 - $55,143
4.5%
$55,144 - $58,041
5%
$58,042 - $62,390
5.5%
$62,391 - $67,570
6%
$67,571 - $71,126
6.5%
$71,127 - $78,273
7%
$78,274 - $83,407
7.5%
$83,408 and above
8%
SFSS debt Repayment Rate
Taxable Income
Repayment Rate
Below $44,912
Nil
$44,912 - $55,143
2%
$55,144 - $78,273
3%
$78,274 and above
4%
Medical Expense Offset
20% tax offset on net medical expenses over $2,000.