Income Tax Rates
Australian Residents
Income Level
Marginal Tax Rate
$1-$6,000
Nil
$6,001-$34,000
15c for each $1 over $6,000
$34,001-$80,000
$4,200 + 30c for each $1 over $34,000
$80,001-$180,000
$18,000 + 40c for each $1 over $80,000
$180,001 and over
$58,000 + 45c for each $1 over $180,000
Non-Residents
Income Level
Marginal Tax Rate
$0-$34,000
29c for each $1
$34,001-$80,000
$9,860 plus 30c for each $1 over $34,000
$80,001-$180,000
$23,660 plus 40c for each $1 over $80,000
$180,001 and over
$63,660 plus 45c for each $1 over $180,000
Low Income Tax Offset
Maximum Offset of $1,200
Offset phases out at a rate of 4% at incomes over $30,000 with the upper limit set at $60,000.
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:
$28,867
$33,961
Eligible for Pensioner Tax Offset:
$25,299
$29,763
All Other Taxpayers:
$17,794
$20,934
Family Income Thresholds
Low Threshold
High Threshold
Eligible for Senior Tax Offset:
$42,000
$49,411
All Other Taxpayers:
$30,025
$35,323
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:
$70,000
Family Threshold:
$140,000
Education Repayment
HECS-HELP debt Repayment Rate
Taxable Income
Repayment Rate
Below $41,595
Nil
$41,595-$46,333
4%
$46,334-$51,070
4.5%
$51,071-$53,754
5%
$53,755-$57,782
5.5%
$57,783-$62,579
6%
$62,580-$65,873
6.5%
$65,874-$72,492
7%
$72,493-$77,247
7.5%
$77,248 and above
8%
SFSS debt Repayment Rate
Taxable Income
Repayment Rate
Below $41,595
Nil
$41,595-$51,070
2%
$51,071-$72,492
3%
$72,493 and above
4%
Medical Expense Offset
20% tax offset on net medical expenses over $1,500.