Individual Rates from 1 July 2019 –30 June 2020.
Taxable income Per cent
$0 - $18,200 Nil
$18,200 - $37,000 19.0%
$37,001 - $90,000 32.5%
$90,001 - $180,000 37.0%
>$180,001 45.0%
Individual Rates from 1 July 2020 –30 June 2021.
$18,201 - $37,000 19.0%
Other Rates
Company Rates 27.5%*
Complying super 15%
Non-complying super 45%
FBT 47%
SGC 9.50%
*Base rate entity company tax rate-For company annual turnover less than $25 million otherwise 30%.
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.
2019/20
Lower income threshold $38,564
Higher income threshold $53,564
HELP, TSL, SSL Repayment Rates & Thresholds
2019-20
Repayment income (RI)
Repayment rate
Below $45,881
Nil
$45,881 - $52,973
1.0%
$52,974 - $56,151
2.0%
$56,152 – $59,521
2.5%
$59,522 - $ 63,092
3.0%
$63,093 - $66,877
3.5%
$66,878 - $70,890
4.0%
$70,891 - $75,144
4.5%
$75,145 - $79,652
5.0%
$79,653 - $84,432
5.5%
$84,433 - $89,498
6.0%
$89,499 - $94,868
6.5%
$94,869 - $100,560
7.0%
$100,561 - $106,593
7.5%
$106,594 - $112,989
8.0%
$112,990 - $119,769
8.5%
$119,770 - $126,955
9.0%
$126,956 - $134,572
9.5%
$134,573 and above
10%
Superannuation contributions
Concessional contributions cap – All Ages
Income year Cap amount
2019/20 $25,000
2020/21 $25,000
Non-concessional contributions cap
2018/19 $100,000
2019/20 $100,000
CGT cap amount
2019/20 $1.515m
2020/21 $1.565m
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%
