Personal income tax calculator

Tax and medicare
[[calculator.results.taxMedicareInfo.taxMedicare | noDecimalCurrency:'$']]
and income after tax of [[calculator.results.taxMedicareInfo.netIncome | noDecimalCurrency:'$']].
 
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Notes and assumptions

 

This calculator uses the legislated tax rates applicable for the relevant financial year. Personal income tax rates are inclusive of the Temporary budget repair levy of 2% for taxable income above $180,000 from 1 July 2014 until 30 June 2017. This calculator takes into account the low income tax offset (LITO). This calculator does not take into account Medicare levy exemptions and Medicare levy surcharge which may have an impact on the amount of tax payable.


Disclaimer: Working holiday makers are subject to different rates of tax, which are not covered in the calculator but can be found here: https://www.ato.gov.au/Individuals/International-tax-for-individuals/Coming-to-Australia/Working-holiday-makers/

Personal income tax rates

1 July 2018 – 30 June 2019

TAXABLE INCOMETAX PAYABLE - RESIDENTSTAX PAYABLE - NON-RESIDENTS
Up to $18,200
Nil
32.5%
$18,201 - $37,000
Nil + 19%
32.5%
$37,001 to $90,000
$3,572 + 32.5%
32.5%
$90,001 to $180,000
$20,797 + 37%
$29,250 + 37%
Above $180,000
$54,097 + 45%
$62,550+ 45%

1 July 2017 – 30 June 2018

TAXABLE INCOMETAX PAYABLE - RESIDENTSTAX PAYABLE - NON-RESIDENTS
Up to $18,200
Nil
32.5%
$18,201 - $37,000
Nil + 19%
32.5%
$37,001 to $87,000
$3,572 + 32.5%
32.5%
$87,001 to $180,000
$19,822 + 37%
$28,275 + 37%
Above $180,000
$54,232 + 45%
$62,685 + 45%

1 July 2016 – 30 June 2017

TAXABLE INCOMETAX PAYABLE - RESIDENTSTAX PAYABLE - NON-RESIDENTS
Up to $18,200
Nil
32.5%
$18,201 - $37,000
Nil + 19%
32.5%
$37,001 to $87,000
$3,572 + 32.5%
32.5%
$87,001 to $180,000
$19,822 + 37%
$28,275 + 37%
Above $180,000
$54,232 + 47%
$62,685 + 47%

1 July 2014 - 30 June 2016

TAXABLE INCOMETAX PAYABLE - RESIDENTSTAX PAYABLE - NON-RESIDENTS
Up to $18,200
Nil
32.5%
$18,201 - $37,000
Nil + 19%
32.5%
$37,001 to $80,000
$3,572 + 32.5%
32.5%
$80,001 to $180,000
$17,547 + 37%
$26,000 + 37%
Above $180,000
$54,547 + 47%
$63,000 + 47%

1 July 2012 - 30 June 2014

TAXABLE INCOMETAX PAYABLE - RESIDENTSTAX PAYABLE - NON-RESIDENTS
Up to $18,200
Nil
32.5%
$18,201 - $37,000
Nil + 19%
32.5%
$37,001 to $80,000
$3,572 + 32.5%
32.5%
$80,001 to $180,000
$17,547 + 37%
$26,000 + 37%
Above $180,000
$54,547 + 45%
$63,000 + 45%

Medicare thresholds

1 July 2017 - 30 June 2018

SINGLES (NO DEPENDENTS)MEDICARE LEVY RATE
Up to $21,980 Nil
$21,980 - $27,475 10% of taxable income between thresholds
Above $27,475 2% of taxable income

1 July 2016 - 30 June 2017

SINGLES (NO DEPENDENTS)MEDICARE LEVY RATE
Up to $21,655 Nil
$21,666 - $27,068 10% of taxable income between thresholds
Above $27,068 2% of taxable income

1 July 2015 - 30 June 2016

SINGLES (NO DEPENDENTS)MEDICARE LEVY RATE
Up to $21,335 Nil
$21,336 - $26,668 10% of taxable income between thresholds
Above $26,668 2% of taxable income

1 July 2014 - 30 June 2015

SINGLES (NO DEPENDENTS)MEDICARE LEVY RATE
Up to $20,896 Nil
$20,897 - $26,120 10% of taxable income between thresholds
Above $26,120 2% of taxable income

1 July 2012 - 30 June 2014

SINGLES (NO DEPENDENTS)MEDICARE LEVY RATE
Up to $20,542 Nil
$20,543 - $24,167 10% of taxable income between thresholds
Above $24,167 1.5% of taxable income

Low income tax offset (LITO)

1 July 2018 - 30 June 2019

Income assessed Taxable income
Maximum offset $445
Shade-out threshold $37,000
Cut-out threshold $66,667
Rate of reduction $0.015 per $1.00 above shade-out threshold
Effective tax free threshold $20,542

Low and middle income tax offset (LAMITO)

1 July 2018 – 30 June 2022

Income assessed Taxable income
Initial offset $200
Shade-in threshold $37,000
Shade-in rate $0.03 per $1.00 above shade-in threshold
Maximum offset threshold $48,000
Maximum offset $480
Shade-out threshold $0.015 per $1.00 above shade-out threshold
Cut-out threshold $125,333
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Important information

 

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Past performance of any product described on this site is not a reliable indication of future performance.

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This calculator is a software program developed by Macquarie Group Limited and its related bodies corporate (collectively referred to below as "Macquarie", "we", "us" or "our"). Macquarie is the owner of the copyright in this calculator.

The following are terms of use of this calculator:

  1. We have only made the necessary statutory and modelling assumptions (stated in the notes) in this calculator. You may change all other assumptions to reflect the scenario you are trying to model.
  2. The purpose of this calculator is to estimate the amount of tax and Medicare levy that may be payable by your client. An interactive chart, visible on selected devices, illustrates the marginal tax rate (including Medicare levy) that will apply to the next dollar of their taxable income.
  3. This calculator is a model only and is not a prediction of your financial outcomes or a substitute for professional advice. Your financial outcomes will depend on external factors such as tax, superannuation laws, investment earnings and inflation.
  4. This information is provided for the use of financial services professionals only. In no circumstances is it to be used by a person for the purposes of making a decision about a financial product or class of financial products.
  5. You must not (i) copy, disassemble, reverse engineer, reproduce, adapt or otherwise attempt to derive, tamper or modify the software program code of the calculator, (ii) sell, licence or in any way distribute or transmit the calculator to your customers and/or other third parties, and (iii) copy or use in any way Macquarie's name and all associated trademarks which may appear on the calculator; you acknowledge that to do any such acts would constitute an infringement of our intellectual property rights in the calculator and its trademarks, and may cause errors in the calculator and any calculations generated.
  6. While we have used all reasonable care in preparing this information, where it includes assumptions and information provided by third parties which we are not able to independently verify, we do not accept responsibility for incorrect assumptions, errors or omissions by those third parties.
  7. To the extent the law allows us to, we will not be responsible for any loss (including, without limitation, loss of data, interruption to business, loss of profits and loss of investments) arising directly or indirectly from use of the calculator.
  8. This software has not been designed for any particular investor and has been prepared in good faith and without assuming a duty of care. No guarantee, warranty, or representation is given or implied as to the reliability or accuracy of the information used to compile each index or each calculation.
  9. Macquarie do not give taxation advice. The application of taxation laws to each client depends on that client's individual circumstances. Accordingly, clients should seek independent professional advice on taxation implications before making a decision about a financial product or class of financial products.
  10. Before using the calculator you should read the Notes detailing the assumptions, if any, used in the calculator.