2013/14 Tax Rates

Individual Rates from 1 July 2013 –30 June 2014.

Taxable income  Per cent

$0 - $18,200                       Nil          

$18,200 - $37,000              19.0%        

$37,001 - $80,000              32.5%

$80,001 - $180,000            37.0%

>$180,001                         45.0%

Individual Rates from 1 July 2014 –30 June 2015.

Taxable income  Per cent

$0 - $18,200                       Nil          

$18,200 - $37,000              19.0%        

$37,001 - $80,000              32.5%

$80,001 - $180,000            37.0%

>$180,001                         47.0%


Personal Tax offsets and Rebates for 2013/14

Dependant Spouse

born before 1 July 1952    $2,471

Low income earner          $445

Mature age worker            $500

Medical expenses – 20% of excess of net medical expenses over $2,120. If the level of income above ATI threshold it is now 10% of excess of net medical expenses over $5,000. 


Other Rates

Company Rates                           30%

Complying super                          15%

Non-complying super   45%

FBT                                 47%

SGC                                  9.50%

Medicare levy surcharge threshold

The Medicare levy surcharge is now determined by new income thresholds.

Single                                

$88,000 or less                   0.0%

$88,001-$102,000              1.0%

$102,001-$136,000            1.25%

$130,001 or more              1.5%

Families                            

$176,000 or less                0.0%

$176,001-$204,000            1.0%

$204,001-$272,000            1.25%

$272,001 or more              1.5%

Each dependent child       +$1,500

Government co-contributions

The government will contribute $0.50 for each dollar contributed up to maximum co-contribution of $1,000 for at or below the lower income threshold.

Lower income threshold $33,516

Higher income threshold $48,516

Superannuation contributions

Concessional contributions cap

Income year        Cap amount

2013/14 $25,000

2014/15 $30,000

For over-60s

2013/14 $35,000

2014/15 $35,000

Non-concessional contributions cap

2012/13 $150,000

2013/14 $150,000

CGT cap amount

2012/13 $1.315m

Super Preservation Age

Date of birth       Preservation age

Before 1/7/60                  55

1/7/60 - 30/6/61             56

1/7/61 - 30/6/62             57

1/7/62 - 30/6/63             58

1/7/63 - 30/6/64             59

From 1/7/64                    60

Tax Free Redundancy payments


Income Year

Base Limit

Each complete year

2012/13

$8,806

$4,404

2013/14

$9,246

$4,624

 

Prescribed rates per kilometre for motor vehicle expense claims

 

Rates per business kilometre

Engine capacity

Cents per kilometre

Ordinary engine

Rotary engine

 

1.6 litre (1,600cc) or less

0.8 litre (800cc) or less

65 cents

1.601-2.6 litre (1,601-2,600cc)

0.801-1.3 litre (801-1,300cc)

76 cents

2.601 litre (2,601cc) and over

1.301 litre (1,301cc) and over

77 cents



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JH Business Services & Taxation
Accounting | Business Advisory | Tax Services
Specialist in small to medium business 
& personal tax services


Norwest Office


 Suite 205
29-31 Lexington Drive
Bella Vista
NSW 2153

 

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