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  TAX - RATESPersonalAdult - Residents      Monday, 18 January 2021  

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Adult Income Tax Rates - Residents


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If you are a resident for Australian tax purposes for the full year the following rates apply.

 

   
Taxable Incomes for Various Average Tax Rates
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Average Tax Rates
including LITO, LAMITO, Medicare Levy and Budget Repair Levy
Australian Resident Adults
Average Taxable Income
Tax Rate 2019/2020 2018/2019 2017/2018 2016/2017
0% $21,884 $21,884 $20,542 $20,542
5% $26,658 $26,658 $25,421 $25,286
10% $37,476 $37,476 $35,485 $35,485
15% $50,158 $50,158 $45,015 $45,015
20% $65,832 $65,832 $59,082 $59,082
25% $95,783 $95,783 $88,343 $88,343
27.5% $112,297 $112,297 $107,548 $107,548
30% $138,922 $138,922 $137,422 $137,422
35% $224,192 $224,192 $223,067 $216,915
40% $384,329 $384,329 $382,400 $337,423
45% $1,345,150 $1,345,150 $1,338,400 $759,200

   
Spouse Details - what if they won't tell you
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2024/2025
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Taxable income

Tax on this income

$0 – $18,200

Nil

$18,201 – $45,000

19c for each $1 over $18,200

$45,001 – $200,000

$5,092 plus 30c for each $1 over $45,000

Over $200,000

$51,592 plus 45c for each $1 over $200,000


The above rates do not include:

> the Medicare levy or

> the effect of Income Tax Offsets.

These rates apply to individuals who:
 

> are residents of Australia for tax purposes for the whole financial year, and

> are 18 years and over on 30 June, or

> are resident minors who are ‘excepted persons’, or

> is the ‘excepted income’ of resident minors.


   
2020/2021 to 2023/2024
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Taxable income

Tax on this income

$0 – $18,200

Nil

$18,201 – $45,000

19c for each $1 over $18,200

$45,001 – $120,000

$5,092 plus 32.5c for each $1 over $45,000

$120,001 – $180,000

$29,467 plus 37c for each $1 over $120,000

Over $180,000

$51,667 plus 45c for each $1 over $180,000


The above rates do not include:

> the Medicare levy or

> the effect of Income Tax Offsets.

These rates apply to individuals who:
 

> are residents of Australia for tax purposes for the whole financial year, and

> are 18 years and over on 30 June, or

> are resident minors who are ‘excepted persons’, or

> is the ‘excepted income’ of resident minors.


   
2018/2019 to 2019/2020
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Taxable income

Tax on this income

$0 – $18,200

Nil

$18,201 – $37,000

19c for each $1 over $18,200

$37,001 – $90,000

$3,572 plus 32.5c for each $1 over $37,000

$90,001 – $180,000

$20,797 plus 37c for each $1 over $90,000

Over $180,000

$54,097 plus 45c for each $1 over $180,000


The above rates do not include:

> the Medicare levy or

> the effect of Income Tax Offsets.

These rates apply to individuals who:
 

> are residents of Australia for tax purposes for the whole financial year, and

> are 18 years and over on 30 June, or

> are resident minors who are ‘excepted persons’, or

> is the ‘excepted income’ of resident minors.


   
2017/2018
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Taxable income

Tax on this income

$0 – $18,200

Nil

$18,201 – $37,000

19c for each $1 over $18,200

$37,001 – $87,000

$3,572 plus 32.5c for each $1 over $37,000

$87,001 – $180,000

$19,822 plus 37c for each $1 over $87,000

Over $180,000

$54,232 plus 45c for each $1 over $180,000


The above rates do not include:

> the Medicare levy or

> the effect of Income Tax Offsets.

These rates apply to individuals who:
 

> are residents of Australia for tax purposes for the whole financial year, and

> are 18 years and over on 30 June, or

> are resident minors who are ‘excepted persons’, or

> is the ‘excepted income’ of resident minors.


   
2017/2018 - The Real Tax Rates and Thresholds after applying the LITO and Medicare levy
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2016/2017
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Taxable income


Tax on this income

$0 – $18,200

Nil

$18,201 – $37,000

19c for each $1 over $18,200

$37,001 – $87,000

$3,572 plus 32.5c for each $1 over $37,000

$87,001 – $180,000

$19,822 plus 37c for each $1 over $87,000

Over $180,000

$54,232 plus 47c for each $1 over $180,000


The above rates include the Temporary Budget Repair Levy.

The above rates do not include:

> the Medicare levy or

> the effect of Income Tax Offsets.

These rates apply to individuals who:
 

> are residents of Australia for tax purposes for the whole financial year, and

> are 18 years and over on 30 June, or

> are resident minors who are ‘excepted persons’, or

> is the ‘excepted income’ of resident minors.


   
2016/2017 - The real tax rates after applying LITO and the Medicare Levy
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Taxable Tax & Marginal
Income Medicare Next Tax Rate Reason
$0 $0 $18,200 0% LITO kicks in after $18,200
$18,200 $0 $3,455 0% 19% Marginal Tax Rate starts at $18,200
$20,542 $0 $1,113 19.0% LITO eliminates any tax
$21,655 $211 $5,414 29.0% 10% Medicare Levy Rate starts at $21,655
$27,069 $1,781 $9,931 21.0% 2% Medicare Levy Rate starts at $27,069
$37,000 $3,867 $0 21.0% LITO maximum offset reduces after $37,000
$37,000 $3,867 $29,667 36.0% 32.5% Marginal Tax Rate starts at $37,000
$66,667 $14,547 $20,333 34.5% LITO cuts out at $66,667
$87,000 $21,562 $93,000 39.0% 37% Marginal Tax Rate starts at $87,000
The Marginal Tax Rate between $18,200 and $37,000 is 20.6%
The Marginal Tax Rate between $20,542 and $37,000 is 23.5%
The Marginal Tax Rate between $37,000 and $87,000 is 35.4%
The marginal tax rates above includes the Medicare Levy , if applicable.
The excessive marginal tax rates are caused by the interaction of 2 thresholds
Medicare Levy and Low income tax offset (LITO).
Taxpayers should consider other available marginal tax rates.
The above table assumes that the taxpayer is single and not entitled to any other offsets
and that they have adequate private health insurance to avoid the Medicare Surcharge

   
2015/2016 and 2014/2015
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2015/2016 - The real tax rates after applying LITO and the Medicare Levy
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2014/2015 - The real tax rates after applying the LITO and Medicare Levy
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2012/2013, 2013/2014
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2012/2013, 2013/2014 - The real tax rates after applying the LITO and Medicare Levy
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2010/2011, 2011/2012
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2011/2012 -The real tax rates after applying LITO and the Levies
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2010/2011 - The real tax rates after applying LITO and Medicare Levy
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2009/2010
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2009/2010 - The real tax rates after applying LITO and Medicare Levy
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2008/2009
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2007/2008
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2006/2007
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2000 to 2006
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1984 to 1999
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This page was last edited on 22 December 2020

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