Tax brackets
Personal income tax rates
Taxes cut!
The tax cuts announced in the October 2020 Federal Budget mean that many taxpayers will receive a bigger tax offset when they put in their return. They apply from 1 July 2020. The tax brackets below are correct for 2020-21.
Tax brackets 2020-2021
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 |
$180,001 and over | $51,667 plus 45c for each $1 over $180,000 |
Tax brackets 2019-2020
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 |
$180,001 and over | $54,097 plus 45c for each $1 over $180,000 |
Tax brackets 2018-2019
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 |
$180,001 and over | $54,097 plus 45c for each $1 over $180,000 |
These tables do not include the 2% Medicare levy.