Tax Rates

Sydney Tax Returns and Accountants

 

Individual - Resident - Tax Rates

These rates apply to individuals who:

  • are residents of Australia for tax purposes for the whole financial year; and
  • did not leave full-time education for the first time during the financial year

 

Tax rates 2008-09

 

Taxable income

Tax on this income

$1 – $6,000

Nil

$6,001 – $30,000

15c for each $1 over $6,000

$30,001 – $80,000

$3,600 plus 30c for each $1 over $30,000

$80,001 – $180,000

$18,600 plus 40c for each $1 over $80,000

$180,001 and over

$58,600 plus 45c for each $1 over $180,000

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

Tax offsets reduce the tax payable.

 

 

 

Tax rates 2007-08

 

Taxable income

Tax on this income

$1 – $6,000

Nil

$6,001 – $30,000

15c for each $1 over $6,000

$30,001 – $75,000

$3,600 plus 30c for each $1 over $30,000

$75,001 – $150,000

$17,100 plus 40c for each $1 over $75,000

$150,001 and over

$47,100 plus 45c for each $1 over $150,000

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

Tax offsets reduce the tax payable.

 

 

 

Individual - Non Resident - Tax Rates

These rates apply to individuals who:

  • are non-residents of Australia for tax purposes for the whole financial year

 

 

Tax rates 2008-09

 

Taxable income

Tax on this income

$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

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

Tax offsets reduce the tax payable.

 

 

 

Tax rates 2007-08

 

Taxable income

Tax on this income

$0 – $34,000

29c for each $1

$30,001 – $75,000

$8,700 plus 30c for each $1 over $30,000

$75,001 – $150,000

$22,200 plus 40c for each $1 over $75,000

$150,001 and over

$52,200 plus 45c for each $1 over $150,000

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

Tax offsets reduce the tax payable.

 

 

 

Company - Tax Rates

Tax rates 2007-08

Flat tax rate of 30% applies to companies

 

 

Superannuation Funds

Tax rates 2007-08

Complying Super Fund - 15% tax rate

Non Complying Super Fund - 40% tax rate