Income Tax Rates

  • From 1 July 2016, the 32.5% personal income tax threshold will increase from $80,000 to $87,000.
  • The 2% Temporary Budget Repair Levy to cease at the end of 2016-17 financial year.
2017-2018 2016-2017
Taxable Income Tax Payable Taxable Income Tax Payable
$0 – $18,200 Nil $0 – $18,200 Nil
$18,201 – $37,000 19% of excess over $18,200 $18,201 – $37,000 $19% of excess over $18,201
$37,001 – $87,000 $3,572 + 32.5% of excess over $37,000 $37,001 – $87,000 $3,572 + 32.5% of excess over $37,000
$87,001 $180,000 $19,822 + 37% of excess over $80,000 $87,001 – $180,000 $17,534 + 37% of excess over $80,000
$180,000+ $54,547 + 45% of excess over $180,000 $180,000+ $54,534 + 47% of excess over $180,000