Tax rates

Contributed by AnnetteMorgan and current to 27 July 2018

Taxable Income	Tax Payable
0 - 18,200	Nil
18,201 - 37,000	Nil + 19% of excess over 18,200
37,001 - 90,000	3,572 + 32.5% of excess over 37,000
90.001 - 180,000	20,797 + 37% of excess over 90.000
180,001 +	54,097 + 45% of excess over 180,000

Note that the tax-free threshold is less than $18,200 in a financial year if you:

• entered with the intention to reside in Australia during the year
• left Australia with the intention to reside overseas during the year.

If you are a non-resident the rates for 2019/20 are shown in the following table:

Taxable Income	Tax Payable
$0 - $90,000	32.5% on each $1
$90,001 - $180,000	$29,250 + 37% for each $1 over $90,000
$180,000 and over	$62,550 + 45% for each $1 over $180,000

From 1 January 2017 new rules were implemented for non residents who are classified as a working holiday maker. The first $37,000 of income is taxed at 15% and the balance is taxed at ordinary rates.

You are a working holiday maker if you have a visa subclass:

• 417 (Working Holiday)
• 462 (Work and Holiday).

Once you apply the tax tables to your taxable income, further calculations are likely to be necessary. The more significant of these relate to the Medicare levy and the Higher Education Loan Program.