Update: 27 June 2014:
We have updated the calculator for the 2015 financial year tax rates.
|Tax Tables for year ended 30 June 2015|
|Taxable Income ($)||Tax Payable ($)|
|0 – 18,200||Nil|
|18,201 – 37,000||Nil + 19% of excess over 18,200|
|37,001 – 80,000||3,572 + 32.5% of excess over 37,000|
|80,001 – 180,000||17,547 + 37% of excess over 80,000|
|180,001+||54,547 + 45% of excess over $180,000|
PAYG Withholding Tax rates are slightly different to the actual tax rates and are not calculated using this calculator.
The Temporary Budget Repair Levy (Deficit Levy) has not been taken into account yet as it is not yet received ascent
The Tax Calculator takes into account the Medicare Levy, the Low Income Rebate, Income Tax and the Flood Levy (2012 only).
The calculator is aimed to apply to the average individual and be easy to use and does not take into account special rebates and additional tax like HECS repayments.