| Resident Tax Rates 2006-2007 |
| |
|
| Taxable Income $ |
Tax Payable $ |
| 0 - 6,000* |
Nil |
| 6,001 - 25,000 |
Nil + 15% of Excess over 6,000 |
| 25,001 - 75,000 |
2,850 + 30% of Excess over 25,000 |
| 75,001 - 150,000 |
17,850 + 40% of Excess over 75,000 |
| 150,001 + |
47,850 + 45% of Excess over 150,000 |
| |
|
| |
|
| Resident Tax Rates 2007-2008 |
| |
|
| Taxable Income $ |
Tax Payable $ |
| 0 - 6,000* |
Nil |
| 6,001 - 30,000 |
Nil + 15% of Excess over 6,000 |
| 30,001 - 75,000 |
3,600 + 30% of Excess over 30,000 |
| 75,001 - 150,000 |
17,100 + 40% of Excess over 75,000 |
| 150,001 + |
47,100 + 45% of Excess over 150,000 |
| |
|
| |
|
| Medicare Levy - 1% Surcharge |
| |
|
|
1% additional Medicare Levy payable where income is greater than |
| Single (no dependent children) |
$50,000 |
| Couple (no dependent children) |
$100,000 |
| Couple or Sole Parent (with 1 dependent child) |
$100,000 (+ $1,500 per child after 1st) |
Surcharge is 1% of taxable income/reportable fringe benefits if taxpayer, spouse and all
dependents are not covered by private hospital insurance and thresholds are exceeded.
However, a member of a couple does not pay surcharge if his/her taxable income/
reportable fringe benefits total does not exceed $15,902 (for 2004-2005).
|
