Individual Rates from 1 July 2015 –30 June 2016. 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 2016 –30 June 2017. Taxable income Per cent $0 - $18,200 Nil $18,201 - $37,000 19.0% $37,001 - $80,000 32.5% $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 – Maximum $500 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 2015/16 $30,000 2016/17 $30,000
For over-49s 2015/16 $35,000 2016/17 $35,000
Non-concessional contributions cap 2015/16 $180,000 2016/17 $180,000
CGT cap amount 2015/16 $1.395m 2016/17 $1.415m
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
Minimum annual payments for super income stream Under 65 4% 65-74 5% 75-79 6% 80-84 7% 85-89 9% 90-94 11% 95 or more 14% |