Taxation

Individual Income Tax Rates 2012-13

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Individual Income Tax Rates  2012-13

These rates apply to individuals who are Australian residents for tax purposes.

The following rates for 2012-13 apply from 1 July 2012.

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Taxable income

0 – $18,200

Tax on this income

Nil

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Taxable income

$18,201 – $37,000

Tax on this income

19c for each $1 over $18,200

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 Taxable income

$37,001 – $80,000

Tax on this income

$3,572 plus 32.5c for each $1 over $37,000

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Taxable income

$80,001 – $180,000

Tax on this income

$17,547 plus 37c for each $1 over $80,000

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Taxable income

$180,001 and over

Tax on this income

$54,547 plus 45c for each $1 over $180,000

The above rates do not include the Medicare levy of 1.5%.

Blog Posted by Michael Kuster

Cloud Accounting Australia Pty Ltd

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