Year end tax tips & tax help – Quick reference to Australian tax rates
We have the quick reference to the current and the past financial year’s tax rates, thresholds and limits below.
They contain individual rates, non-individual rates, superannuation rates and superannuation contribution rates. The tax rates are based on information published by the ATO.
You can work out tax by applying appropriate tax rate. This will vary according to your business structure.
You need to add Medicare levy of 1.5% if your taxable income is above the ‘low income threshold’. You may also be subject to additional 1% Medicare levy surcharge if you don’t have adequate private patient hospital medical insurance and your taxable income is above certain income threshold.
Every effort has been made to offer the most current, correct and clearly expressed information possible within this site. Nonetheless, inadvertent errors can occur and applicable laws, rules and regulations may change.
These materials on this website are general in nature. It is made available on the understanding that the JH Business Services & Taxation is not thereby engaged in rendering professional advice. Before relying on the material in any important matter, users should carefully evaluate its accuracy, currency, completeness and relevance for their purposes, and should obtain any appropriate professional advice relevant to their particular circumstances.