The individual income tax rates for the current year 2009-2010 year are:
|
Taxable income |
Tax on this income |
|
$0 ?? $6,000 |
Nil |
|
$6,001 ?? $35,000 |
15c for each $1 over $6,000 |
|
$35,001 ?? $80,000 |
$4,350 plus 30c for each $1 over $34,000 |
|
$80,001 ?? $180,000 |
$17,850 plus 38c for each $1 over $80,000 |
|
Over $180,000 |
$55,850 plus 45c for each $1 over $180,000 |
* Low income earners under $15,000 will pay no tax, due to the Low Income Tax Offset.
The above rates DO NOT include the 1.5% Medicare levy
Examples of Salary and Deductions are:
Gross Tax Medicare Net % Deducted $30,000.00 $3,600.00 $450.00 $25,950.00 13.50% $40,000.00 $5,850.00 $600.00 $33,550.00 16.13% $50,000.00 $8,850.00 $750.00 $40,400.00 19.20% $60,000.00 $11,850.00 $900.00 $47,250.00 21.25% $70,000.00 $14,850.00 $1,050.00 $54,100.00 22.71% $80,000.00 $17,850.00 $1,200.00 $60,950.00 23.81% $90,000.00 $21,650.00 $1,350.00 $67,000.00 25.56% $100,000.00 $25,450.00 $1,500.00 $73,050.00 26.95% $110,000.00 $29,250.00 $1,650.00 $79,100.00 28.09% $120,000.00 $33,050.00 $1,800.00 $85,150.00 29.04% $130,000.00 $36,850.00 $1,950.00 $91,200.00 29.85% $140,000.00 $40,650.00 $2,100.00 $97,250.00 30.54% $150,000.00 $44,450.00 $2,250.00 $103,300.00 31.13% $160,000.00 $48,250.00 $2,400.00 $109,350.00 31.66% $170,000.00 $52,050.00 $2,550.00 $115,400.00 32.12% $180,000.00 $55,850.00 $2,700.00 $121,450.00 32.53% $190,000.00 $60,350.00 $2,850.00 $126,800.00 33.26% $200,000.00 $64,850.00 $3,000.00 $132,150.00 33.93%