Individual Rates from 1 July 2010 –30 June 2011
Personal Tax offsets and Rebates for 2010/11 Dependents rebates
Education tax refund – 50% of maximum eligible expenses
Entrepreneurs - 25% of taxpayer’s income tax liability Medical expenses – 20% of excess of net medical expenses over $1,500 Other Rates
Medicare levy surcharge threshold
Government co-contributions Matched at $1.00 for each dollar contributed up to maximum co-contribution of $1,000 for at or below the lower income threshold.
Superannuation contributions Concessional contributions cap Income year Cap amount
Transitional arrangement – contributions by individuals aged 50 or more Year Concessional cont cap amount
$50,000 transitional concessional contributions cap applies until 30th June 2012. Non-concessional contributions cap
Bring forward rule for people under 65 years non-concessional contributions of up to $450,000 over a three-year period. Super Preservation Age
Tax Free Redundancy payments
Prescribed rates per kilometre for motor vehicle expense claims
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