Newsletter
Federal Budget Newsletter
Personal Tax Rates Residents
The Government did not make any changes to the currently legislated tax rates for residents that are to apply from 1 July 2012:
• from 1 July 2012, the tax-free threshold will be increased to $18,200 and the first two marginal tax rates will be increased from 15% to 19% and from 30% to 32.5%, respectively; and
• from 1 July 2015, the tax-free threshold will be $19,400 and the second marginal tax rate will be increased from 32.5% to 33%.
The personal income tax rates and thresholds are summarised for resident taxpayers in the tables below:
2011–2012 personal tax rates and thresholds | ||
Threshold | Rate | |
1st rate | $6,001 | 15.0% |
2nd rate | $37,001 | 30.0% |
3rd rate | $80,001 | 37.0% |
4th rate | $180,001 | 45.0% |
2012–2013 personal tax rates and thresholds | ||
Threshold | Rate | |
1st rate | $18,201 | 19.0% |
2nd rate | $37,001 | 32.5% |
3rd rate | $80,001 | 37.0% |
4th rate | $180,001 | 45.0% |
2015–2016 personal tax rates and thresholds | ||
Threshold | Rate | |
1st rate | $19,401 | 19.0% |
2nd rate | $37,001 | 33.0% |
3rd rate | $80,001 | 37.0% |
4th rate | $180,001 | 45.0% |