Income Tax in Australia 2012 – 2013.
Special rules apply to income earned by people under 18 years old and, in some cases, some of their income may be taxed at a higher rate than an adult.
The Tax Free Threshold rose from $6,000 to $18,200 this year.
2012-2013 Tax Rates for Earners classed as Tax-Resident.
| Taxable income | Tax on this income |
|---|---|
| 0 to $18,200 | Nil |
| $18,201 to $37,000 | 19 cents for each $1 over $18,200 |
| $37,001 to $80,000 | $3,572 plus 32.5 cents for each $1 over $37,000 |
| $80,001 to $180,000 | $17,547 plus 37 cents for each $1 over $120,000 |
| $180,001 and over | $54,547 plus 45 cents for each $1 over $180,000 |
Source: Australian Taxation Office
The above rates do not include the Medicare Levy.