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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

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.