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