Home Resources Australian Tax Rates & Tables

Australian Tax Rates & Tables

Current to 18 March 2009, the following tax tables are extracts from Thomson Reuters Tax Rates & Tables.

These handy reference tables include Australian income tax rates, superannuation, fringe benefits tax (FBT) and motor vehicle mileage rates, as well as Medicare rates, company tax rates, PAYG, CPI, General Interest charges and shortfall interest charges.

Tax Rates

General Rates – Residents – 2008-09
Taxable Income $ Tax payable $
0 – 6,000 Nil
6,001 – 34,000 Nil + 15% excess of over 6,000
34,001 – 80,000 4,200 + 30% of excess over 34,000
80,001 – 180,000 18,000 + 40% of excess over 80,000
180,001 + 58,000 + 45% of excess over 180,000

For general rates for other financial years, general rates for non-residents or resident minors (Div6AA) check out Tax Rates & Tables.

Medicare Levy – 2007-08 General Rate   

Medicare Levy applies only to residents.
Taxpayer Taxable income $ Medicare Levy Payable $
Individual 0 – 17,309
17,310 – 20,363
20,364+		 Nil
10% of excess over 17,309
1.5% of entire amount
Pensioner below pension age1 0 – 22,922
22,923 – 26,967
26,968 +		 Nil
10% of excess over 22,922
1.5% of entire amount
Senior Australian2 0 – 25,8673
25,868 – 30,431
30,432 +		 Nil
10% of excess over 25,867
1.5% of entire amount
Medicare Levy – 2008-09 income year
Taxpayer Taxable income $ Medicare Levy Payable $
Senior Australian 2 0 – 28,867
28,868 – 33,961
33,962 +		 Nil
10% of excess over 28,867
1.5% of entire amount
Medicare Levy – 2009-10 income year
Taxpayer Taxable income $ Medicare Levy Payable $
Senior Australian 2 0 – 29,867
29,868 – 35,137
35,138 +		 Nil
10% of excess over 29,867
1.5% of entire amount
Medicare Levy – 2010-11 income year
Taxpayer Taxable income $ Medicare Levy Payable $
Senior Australian 2 0 – 30,685
30,686 – 36,100
36,101 +		 Nil
10% of excess over 30,685
1.5% of entire amount
1 Pensioner under pension age entitled to pensioner rebate
2 Senior Australian entitled to Senior Australians Tax Offset (SATO)
3 The Medicare Levy threshold for senior Australians for the 2008-09, 2009-2010 and 2010-11 income years are included in the Tax Laws Amendment (Personal Income Tax Reduction) Act 2008.
Low-income taxpayer offset – 2008-09 income year
Taxable Income (TI) $ Offset $
0 – 30,000 1,200
30,001 – 59,999 1,200 – ([TI – 30,000] x 4%)
60,000 + Nil

Tax Rates & Tables contains more commonly used offset and rebate tables, please click here for details

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Companies

Companies general rate
Income tax year Tax payable on entire amount %
2001-2002 + 30
2000-2001 34
1999-2000 36
PAYG quarterly instalments 2008-09 due dates for 30 June balancers
Instalment Deferred BAS payers * Other quarterly payers
1st instalment 28-Oct-08 21-Oct-08
2nd instalment 28-Feb-09 21-Jan-09
3rd instalment 28-Apr-09 21-Apr-09
4th instalment 28-Jul-09 21-Jul-09
* Entities that report and pay GST on a quarterly basis or who are not registered for GST but are required to report another BAS obligation quarterly.
Certain individuals pay only 2 instalments (due at end of 3rd and 4th instalment quarters).
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Superannuation

Outline of simplified rules   

From 1 July 2007, age-based deduction limits have been abolished and a single annual concessional contributions cap applies, regardless of age. Concessional contributions are generally contributions made by or for an individual that are included in the assessable income of the superannuation provider. These include employer superannuation guarantee contributions, salary sacrifice contributions and contributions by the self-employed for which they intend to claim a tax deduction.

Employers receive a full tax deduction for concessional contributions on behalf of employees under age 75 and the self-employed can also claim a full deduction for personal contributions until age 75.

The concessional contribution limit is indexed and special rules apply for concessional contributions amounts for a defined benefit interest.

Non- concessional contributions, eg. after-tax undeducted contributions, made on or after 1 July 2007 are also subject to an annual cap, which can be averaged over three years. Transitional arrangements apply to non-concessional contributions made between 10 May 2006 and 30 June 2007. The proceeds from personal injury settlements and small business assets may be contributed to superannuation in addition to the annual cap on non-concessional contributions.

Excess contributions above the limit for both concessional and non-concessional contributions attract a higher rate of tax.

Where a TFN has not been quoted to a fund by 30 June each year in respect of the receiving member’s account, a new category of no-TFN contributions income is taxed at the highest marginal rate in the hands of the fund.

Annual concessional contributions cap

Contributions in respect of an individual above the annual concessional contributions cap are subject to excess concessional contributions tax of 31.5% levied on the individual (on top of the original 15% contributions tax paid by the superannuation fund).
Age as at 30 June 2008 Annual concessional contributions cap – per person ($)
Under 50 $50,000
50+ $100,000

Tax Rates & Tables contains more superannuation lump sums, employment termination payments and other superannuation tables, click here for more details.

For more detailed superannuation information, see Australian Superannuation Practice and Superannuation Factbook.

Redundancy / Early retirement 2007-08
Category 2007-08 amount $ Rate of tax %
Genuine redundancy
- Tax-free amount
- Excess		 7,020 + (3,511 x years of service^) Tax free
Employment termination payment
Early retirement scheme payments
- Tax-free amount
- Excess		 7,020 + (3,511 x years of service^) Tax free
Employment termination payment
^ Number of whole years in the period or periods of employment to which payments relate.
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General Interest Charge

Period GIC rate % Period GIC rate %
Apr-Jun 2002 11.31 Jul-Sep 2006 12.87
Jul-Sep 2002 11.84 Oct-Dec 2006 13.19
Oct-Dec 2002 11.96 Jan-Mar 2007 13.37
Jan-Mar 2003 11.84 Apr-Jun 2007 13.37
Apr-Jun 2003 11.75 Jul-Sep 2007 13.37
Jul-Sep 2003 11.78 Oct-Dec 2007 13.75
Oct-Dec 2003 11.82 Jan-Mar 2008 14.15
Jan-Mar 2004 12.31 Apr-Jun 2008 14.69
Apr-Jun 2004 12.57 Jul-Sep 2008 14.75
Jul-Sep 2004 12.51 Oct-Dec 2008 14.31
Oct-Dec 2004 12.44 Jan-Mar 2009 11.76
Jan-Mar 2005 12.43 Apr-Jun 2009 10.16
Apr-Jun 2005 12.63    
Jul-Sep 2005 12.68    
Oct-Dec 2005 12.62    
Jan-Mar 2006 12.63    
Apr-Jun 2006 12.61    

Note: For the amendment of assessments for the 2004-2005 and later income years, the GIC has been replaced by a special interest regime known as “the shortfall interest charge (SIC)”. Refer below for actual SIC rates.

Shortfall interest charge (SIC)
Period SIC rate % Period SIC rate %
Apr-Jun 2005 8.63 Jul-Sep 2007 9.37
Jul-Sep 2005 8.63 Oct-Dec 2007 9.75
Oct-Dec 2005 8.63 Jan-Mar 2008 10.15
Jan-Mar 2006 8.63 Apr-Jun 2008 10.69
Apr-Jun 2006 8.61 Jul-Sep 2008 10.75
Jul-Sep 2006 8.87 Oct-Dec 2008 10.31
Oct-Dec 2006 9.19 Jan-Mar 2009 7.76
Jan–Mar 2007 9.37 Apr-Jun 2009 6.16
Apr-Jun 2007 9.37    
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CPI Index Numbers and Indexation

Quarter Index number Quarter Index number Quarter Index number Quarter Index number
Sep-85 71.3 Dec-91 107.6 Mar-98 120.3 Jun-04 144.82
Dec-85 72.7 Mar-92 107.6 Jun-98 121.0 Sep-04 145.42
Mar-86 74.4 Jun-92 107.3 Sep-98 121.3 Dec-04 146.52
Jun-86 75.6 Sep-92 107.4 Dec-98 121.9 Mar-05 147.52
Sep-86 77.6 Dec-92 107.9 Mar-99 121.8 Jun-05 148.42
Dec-86 79.8 Mar-93 108.9 Jun-99 122.3 Sep-05 149.82
Mar-87 81.4 Jun-93 109.3 Sep-99 123.4 Dec-05 150.6
Jun-87 82.6 Sep-93 109.8 Dec-99 124.11 Mar-06 151.9
Sep-87 84.0 Dec-93 110.0 Mar-00 125.21 Jun-06 154.3
Dec-87 85.5 Mar-94 110.4 Jun-00 126.21 Sep-06 155.7
Mar-88 87.0 Jun-94 111.2 Sep-00 130.92 Dec-06 155.5
Jun-88 88.5 Sep-94 111.9 Dec-00 131.32 Mar-07 155.6
Sep-88 90.2 Dec-94 112.8 Mar-01 132.72 Jun-07 157.5
Dec-88 92.0 Mar-95 114.7 Jun-01 133.82 Sep-07 158.6
Mar-89 92.9 Jun-95 116.2 Sep-01 134.22 Dec-07 160.1
Jun-89 95.2 Sep-95 117.6 Dec-01 135.42 Mar-08 162.2
Sep-89 97.4 Dec-95 118.5 Mar-02 136.62 Jun-08 164.6
Dec-89 99.2 Mar-96 119.0 Jun-02 137.62 Sep-08 166.5
Mar-90 100.9 Jun-96 119.8 Sep-02 138.52 Dec-08 166.0
Jun-90 102.5 Sep-96 120.1 Dec-02 139.52    
Sep-90 103.3 Dec-96 120.3 Mar-03 141.32    
Dec-90 106.0 Mar-97 120.5 Jun-03 141.32    
Mar-91 105.8 Jun-97 120.2 Sep-03 142.12    
Jun-91 106.0 Sep-97 119.7 Dec-03 142.82    
Sep-91 106.6 Dec-97 120.0 Mar-04 144.12    
1 Indexation no longer applies to assets acquired after 11:45am AEST 21 September 1999. However, the Dec 1999, Mar 2000 and Jun 2000 quarters are still relevant for the purposes of calculating tax payable on capital gains under transitional averaging provisions following the abolition of averaging in the 1999-2000 income year.
2 For FBT purposes only.
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Gross-up Formula

Fringe Benefits Tax   

General rate
The rate for fringe benefits tax for the year ending 31 March 2009 is 46.5%.
Type 1 Type 2
2.06471 1.86922
1 Type 1 aggregate fringe benefits amount (where input tax credit is available in respect of the benefit).
2 Type 2 aggregate fringe benefits amount (all other cases).
Vehicles other than cars – per kilometre valuation rates
Engine capacity (Cc) Kilometre rate (cents)
2007-2008 FBT year 2008-2009 FBT year 2009-2010 FBT year
0 – 2,500 41 42 44
2,501+ 49 51 53
Motorcycles 12 13 13

For more FBT benchmark interest rates and FBT car statutory percentages, check out Tax Rates & Tables.

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