2014/15 Tax Rates

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%

Individual Rates from 1 July 2015 –30 June 2016

Taxable income           Per cent

$0 - $19,400                Nil          

$19,401 - $37,000       19.0%        

$37,001 - $80,000       33.0%

$80,001 - $180,000     37.0%

>$180,001                   47.0%

Other Rates

Company Rates                                28.5%*

Complying super                             15%

Non-complying super   45%

FBT                                      47%

SGC                                       9.50%

*For company annual turnover less than $2 million. 30% for over $2 million turnover.

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.

2015/16

Lower income threshold $35,454

Higher income threshold $50,454

Superannuation contributions

Concessional contributions cap

Income year     Cap amount

2014/15          $30,000

2015/16          $30,000

For over-49s

2014/15          $35,000

2015/16          $35,000

Non-concessional contributions cap

2014/15          $180,000

2015/16          $180,000

CGT cap amount

2014/15          $1.355m

2015/16          $1.395m

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

2014/15

$9,514

$4,758

2015/16

$9,780

$4,891

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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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