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FOR YEAR 2007/2008
Residents
These rates apply to individuals who:
are residents of Australia for tax purposes for the whole financial year (see Residency - overview for more information), and
did not leave full-time education for the first time during the financial year.
Tax rates 2006-07
Taxable income
Tax on this income
$0 – $6,000
Nil
$6,001 – $25,000
15c for each $1 over $6,000
$25,001 – $75,000
$2,850 plus 30c for each $1 over $25,000
$75,001 – $150,000
$17,850 plus 40c for each $1 over $75,000
$150,001 and over
$47,850 plus 45c for each $1 over $150,000
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% (read What is the Medicare levy? for more information).
Tax offsets reduce the tax payable. Tax offsets based on taxable income levels apply to a range of circumstances. For more information read About tax offsets.
Non-residents
If you are a non-resident for the full year, the following rates apply:
Tax rates 2006-07
Taxable income
Tax on this income
$0 – $25,000
29c for each $1
$25,001 – $75,000
$7,250 plus 30c for each $1 over $25,000
$75,001 – $150,000
$22,250 plus 40c for each $1 over $75,000
$150,001 and over
$52,250 plus 45c for each $1 over $150,000
Tax rates 2007-08
Taxable income
Tax on this income
$0 – $30,000
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 |
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