contact majenda

Resident Tax Rates 2013-14

The following resident tax rates apply from 1 July 2013:

  

Taxable Income     

Tax on this income

0 - $18,200

Nil

$18,201 - $37,000

19% of each $1 over $18,200

$37,001 - $80,000

$3,572 plus 32.5% of each $1 over $37,000

$80,001 - $180,000

$17,547 plus 37% of each $1 over $80,000

$180,000 and over

$54,547 plus 45% of each $1 over $180,000

In addition, resident taxpayers typically have to pay the Medicare levy of 1.5%.  In some cases, a Medicare levy or exemption may apply.  Ask a Majenda tax adviser for more information.

Non-resident Tax Rates 2013-14

The following foreign resident tax rates for 2013-14 apply from 1 July 2013:

Taxable Income  

Tax on this income

$0 - $80,000

32.5% of each $1 above $0

$80,000 - $180,000

$26,000 plus 37% of each $1 over $80,000

$180,001 and over

$63,000 plus 45% of each $1 over $180,000

Non-residents are not required to pay the Medicare levy.  Special rules apply to determining the Taxable Income of a non resident.  For example interest income is subject to a 10% withholding tax and does not form part of Taxable Income.  For more information about how much tax you are required to pay, please contact a Majenda tax adviser. 

 

What's New

Budget and
Investment Seminar
Series 2014

"The Age of Opportunity"

Bangkok
6:30 PM
Tuesday
3 June 2014

Kuala Lumpur
6:30 PM
Wednesday
4 June 2014

Hong Kong
6:30 PM
Thursday
5 June 2014