TAX CALCULATOR
Tax Calculator Notes
Medicare Levy Info
No Medicare Levy Paid on Incomes below 21,980
Medicare Levy Phased in at $0.10 per dollar between 21,980 and 27,512
Medicare Levy paid at 2% on taxable incomes over 27,512
Medicare Levy Surcharge Info
| Base Tier | Tier 1 | Tier 2 | Tier 3 | |
| Threshold | 0 | 90,000 | 105,000 | 140,000 |
| to | to | |||
| 90,000 | 105,000 | 140,000 | or More | |
| Medicare Levy Surcharge | 0% | 1% | 1.25% | 1.5% |
Notes:
Most employers will not take out medicare levey surcharge
Medicare Levy Surcharge rates for a single adult
HELP Repayment Info
| 2019 HELP Repayment threshold | Repayment % rate | ||
| Less than | 51,957 | Nil | |
| 51957 | to | 57729 | 2.0% |
| 57,730 | to | 64,306 | 4.0% |
| 64,307 | to | 70,881 | 4.5% |
| 70,882 | to | 74,607 | 5.0% |
| 74,608 | to | 80,197 | 5.5% |
| 80,198 | to | 86,855 | 6.0% |
| 86,856 | to | 91,425 | 6.5% |
| 91,426 | to | 100,613 | 7.0% |
| 100,614 | to | 107,213 | 7.5% |
| 107,214 | and above | 8.0% |
low and middle income tax offset
Does not exceed 37,000 you are entitled to $200
Exceeds $37,000 but does not exceed $48,000 you are entitled to $200 plus 3% of the amount of the income that exceeds $37,000
Exceeds $48,000 but not $90,000 , you are entitled to $530
Exceeds $90,000 you are entitled to . $530 less 1.50% of the amount of the income that exceeds $90,000
Low income tax offset
$445 offset if income $37,000 or under
Reduced by $0.015 for each dollar over $37,000
No low income tax offset for taxable incomes over $66,667
Foreign resident tax rates 2018–19
| Taxable income | Tax on this income | ||
| 0.00 | to | 90,000.00 | 32.5c for each $1 |
| 90,001.00 | to | 180,000.00 | $29,250 plus 37c for each $1 over $90,000 |
| 180,000.00 | and over | $62,550 plus 45c for each $1 over $180,000 |
Working holiday maker tax rates 2018–19
| Taxable income | Tax on this income | ||
| $0.00 | to | $37,000.00 | 15c for each $1 |
| $37,001.00 | to | $90,000.00 | $5,550 plus 32.5c for each $1 over $37,000 |
| $90,001.00 | to | $180,000.00 | $22,775 plus 37c for each $1 over $90,000 |
| $180,001.00 | and Over | $56,075 plus 45c for each $1 over $180,000 |
The above rates include changes implementing changes announced in the 2018-19 Federal Budget.
For further info or any questions please contact us