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Resident Tax Rates 2011-12

Resident tax rates for the tax year ended 30 June 2012 are as follows:

  

Taxable Income     

Tax on this income

0 - $6,000

Nil

$6,001 - $37,000

15% of each $1 over $6,000

$37,001 - $80,000

$4,650 plus 30% of each $1 over $37,000

$80,001 - $180,000

$17,850 plus 37% of each $1 over $80,000

$180,000 and over

$55,850 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.  A flood levy applies to some taxpayers for 2012.  Ask a Majenda tax adviser for more information.

Non-resident Tax Rates 2011-12

Non-resident tax rates for the tax year ended 30 June 2012 are as follows:

Taxable Income  

Tax on this income

$0 - $35,000

29% of each $1

$37,001 - $80,000

$10,730 plus 30% of each $1 over $37,000

$80,000 - $180,000

$23,630 plus 37% of each $1 over $80,000

$180,001 and over

$60,630 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. 

 

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Investment Seminars

Our seminars for 2013 have now concluded. 

Dates for our Asian and Middle East (UAE, Qatar etc.) seminars will be announced early in 2014.