Tax Tables 2012

  • July 14, 2011
  • Tax

The Government did not make any changes to the current tax rates and they remain the same as 2010-11. They did however, legislate the flood levy from 1 July 2011 for one year.

 

 

 

Tax rates 2011-12

Taxable income Tax on this income
0 – $6,000 Nil
$6,001 – $37,000 15c for each $1 over $6,000
$37,001 – $80,000 $4,650 plus 30c for each $1 over $37,000
$80,001 – $180,000 $17,550 plus 37c for each $1 over $80,000
$180,001 and over $54,550 plus 45c for each $1 over $180,000

Plus Medicare Levy of 1.5% of taxable income above $21,750

Plus Medicare Levy Surcharge of 1% of taxable income over $22,164 or reduced medicare levy at $0.10 for every dollar of taxable income is between $18,840 – $22,163.

Plus Flood Levy – calculated at 0.5% of taxable income between $50,001 to $100,000 and 1% of taxable income above $100,001.

Check out our 2012 Tax Calculator to estimate your 2012 tax.