Individual Tax Rates 2012 & 2013

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Residents

These rates apply to individuals who are Australian residents for tax.

Tax rates 2012-13

The following rates for 2012-13 apply from 1 July 2012.

Tax Rates 2012-13

Taxable income

Tax on this income

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

$180,001 and over

$54,547 plus 45c for each $1 over $180,000

The above rates do not include the Medicare levy of 1.5.

 

Tax rates 2011-12

The following rates for 2011-12 apply from 1 July 2011.

Tax Rates 2011-12

Taxable income

Tax on this income

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

The above rates do not include the Medicare levy of 1.5.

The above rates do not include the Flood.

 

Foreign residents

If you are a foreign resident for the full year, the following rates apply:

Tax rates 2012-13

The following rates for 2012-13 apply from 1 July 2012.

Tax Rates 2012-13

Taxable income

Tax on this income

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

Foreign residents are not required to pay the Medicare levy.

 

Tax rates 2011-12

The following rates for 2011-12 apply from 1 July 2011.

Tax Rates 2011-12

Taxable income

Tax on this income

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

The above rates do not include the Flood levy (see Flood levy information for individuals for more information).

Foreign residents are not required to pay the Medicare levy.

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For more information contact Hillyer Riches, professionals with tax accounting in Melbourne.

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