31 March 2011

Tax rates & tables and Tax calculator


(last updated 27/03/2014)

For a checklist of allowable deducions that relate to your job see this post: Tax Deduction Finder for My Job.

For many years tax rates and table were fairly easy to obtain. You just needed to get your hands on an ATO TaxPack which contained a myriad of tables. Since 2009 these tables are no longer so easy to find since the tax office decided to stop publishing them in the TaxPack. Instead, people searching for tax rates and tables now need to either subscribe to costly tax related journals or go online. That’s where the fun begins. Don’t get me wrong. I think the ATO’s web site contains a lot of current and relevant information – but try navigating around it! So here are some common tables to get you through. Here is a quick and easy checklist of tax rates ad tables for the past few years:

Tax rates 2013-14:
Tax rates for 2014 have changed with the most significant change being the higher tax free threshold of $18200. In reality, the combined changes to income thresholds and to the Low Income Tax Offset results in little change overall to the previous year:

0 – $18,200
Nil
$18,201 – $37,000
19c for each $1 over $18,200
$37,001 – $80,000
$3,572 plus 32.5c for each $1 over $37,000
$80,001 – $180,000
$17,547 plus 37c for each $1 over $80,000
$180,001 and over
$54,547 plus 45c for each $1 over $180,000

Medicare Levy 2014:


Note that the above tax rates do not include the Medicare Levy or Medicare Levy Surcharge, with the former increasing to a rate of 2% from 1 July, 2014 to fund the National Disability Care programme.

For help with your eTax return see our eTax Return Checklist.

Web Based Tax Return App:

A benefit of using eZtax, our web based tax return app, is we have the genuine online tools, knowledge and experience to get the best tax refund for our clients, making it easy to complete your annual tax return onilne.

Our Web Based Tax Return App will step you through all the neccessary questions to increase your 2014 tax refund estimate and take into account all relevant tax deductions and tax offsets. Try it now. Its FREE to get started! 


Tax rates 2012-13:
Tax rates for 2014 have changed with the most significant change being the higher tax free threshold of $18200. In reality, the combined changes to income thresholds and to the Low Income Tax Offset results in little change overall to the previous year:

0 – $18,200
Nil
$18,201 – $37,000
19c for each $1 over $18,200
$37,001 – $80,000
$3,572 plus 32.5c for each $1 over $37,000
$80,001 – $180,000
$17,547 plus 37c for each $1 over $80,000
$180,001 and over
$54,547 plus 45c for each $1 over $180,000


Tax Rates 2010-2011
Taxable income Tax on this income
0 - $6,000 Nil
$6,001 - $37,000 15c for each $1 over $6,000
$37,001 - $80,000 $4,650 plus 30c for each $1 over $37,000
$80,001 - $180,000 $17,550 plus 37c for each $1 over $80,000
$180,001 and over $54,550 plus 45c for each $1 over $180,000

Tax Rates 2009-2010

Taxable income Tax on this income
0 - $6,000 Nil
$6,001 - $35,000 15c for each $1 over $6,000
$35,001 - $80,000 $4,350 plus 30c for each $1 over $35,000
$80,001 - $180,000 $17,850 plus 38c for each $1 over $80,000
$180,001 and over $55,850 plus 45c for each $1 over $180,000


PAYG Withholding Weekly Tax Tables (PDF files) :

2012 Online version tax witheld calculator:


 For help with your eTax return see our eTax Return Checklist.

Web Based Tax Return App:

A benefit of using eZtax, our web based tax return app, is we have the genuine online tools, knowledge and experience to get the best tax refund for our clients, making it easy to complete your annual tax return online.

Our Web Based Tax Return App will step you through all the necessary questions to increase your 2014 tax refund estimate and take into account all relevant tax deductions and tax offsets. Try it now. Its FREE to get started! 
 

Copyright 2014 All Rights Reserved | My Tax Zone