Rajcomputers: useful tax return information must read

Wednesday, 8 June 2011

useful tax return information must read




Individual income tax rates







Residents

These rates apply to individuals who are residents of Australia for tax purposes (see Residency - overview for more information).
Tax rates 2009-10



Taxable income
Tax on this income
0 - $6,000
Nil
$6,001 - $35,000
15c for each $1 over $6,000
$35,001 - $80,000
$4,350 plus 30c for each $1 over $35,000
$80,001 - $180,000
$17,850 plus 38c for each $1 over $80,000
$180,001 and over
$55,850 plus 45c for each $1 over $180,000


The above rates do not include the Medicare levy of 1.5% (read Medicare levy reduction or exemption for more information).
Tax offsets reduce the tax payable. Tax offsets based on taxable income levels apply to a range of circumstances. For more information read About tax offsets.
Attention icon
The following rates for 2010-11 apply from 1 July 2010.

Tax rates 2010-11
Taxable income
Tax on this income
0 - $6,000
Nil
$6,001 - $37,000
15c for each $1 over $6,000
$37,001 - $80,000
$4,650 plus 30c for each $1 over $37,000
$80,001 - $180,000
$17,550 plus 37c for each $1 over $80,000
$180,001 and over
$54,550 plus 45c for each $1 over $180,000

Non-residents

If you are a non-resident for the full year, the following rates apply:
Tax rates 2009-10
Taxable income
Tax on this income
0 - $35,000
29c for each $1
$35,001 - $80,000
$10,150 plus 30c for each $1 over $35,000
$80,001 - $180,000
$23,650 plus 38c for each $1 over $80,000
$180,001 and over
$61,650 plus 45c for each $1 over $180,000

Non-residents are not required to pay the Medicare levy.
Attention icon
The following rates for 2010-11 apply from 1 July 2010.

Tax rates 2010-11
Taxable income
Tax on this income
0 - $37,000
29c for each $1
$37,001 - $80,000
$10,730 plus 30c for each $1 over $37,000
$80,001 - $180,000
$23,630 plus 37c for each $1 over $80,000
$180,001 and over
$60,630 plus 45c for each $1 over $180,000

Children

If you are under the age of 18, and receive 'unearned' income (for example, investment income), special rates apply. Read Income of individuals under the age of 18.

Calculators

simple tax calculator is available to help you calculate the tax on your taxable income. Thecomprehensive tax calculator also takes into account Medicare levy, HECS/ SFSS repayments, tax offsets and tax credits to give you an estimate of the amount of your tax refund or debt.

Tax deducted from my pay

If you want to know how much your employer (or other payer) is required to withhold from payments to you, use the Tax withheld calculator.

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