Income Tax and Other Rates
Medicare Levy Surcharge
Car fringe benefits statutory formula rates
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Determining the statutory percentage |
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A flat statutory rate of 20% applies (subject to transitional rules), regardless of the distance travelled, to all car fringe benefits you provide after 7.30pm AEST on 10 May 2011 (except where there is a pre-existing commitment in place to provide a car).
The statutory percentages for car fringe benefits provided prior to 7.30pm AEST on 10 May 2011, or where you have a pre-existing commitment in place to provide the car after this time, are as follows: |
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Existing contracts as at 10th May 2011 |
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Total kms travelled in FBT year |
Statutory % |
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0 - 14,999 |
26 |
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15,000 - 24,999 |
20 |
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25,000 - 40,000 |
11 |
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Over 40,000 |
7 |
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You can continue to use these statutory rates for all pre-existing commitments unless there is a change to that commitment. |
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Transitional arrangements and rates
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The move to one statutory rate of 20% will be phased in over four years. There will be transitional arrangements that apply to any new commitments entered into from 10 May 2011 to 31 March 2015. Where there is a change to a pre-existing commitment these transitional arrangements will also apply. The following statutory rates should be used. |
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Total kms |
Statutory % |
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From |
From |
From |
From |
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0 - 14,999 |
20 |
20 |
20 |
20 |
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15,000 - 25,000 |
20 |
20 |
20 |
20 |
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25,000 - 40,000 |
14 |
17 |
20 |
20 |
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Over 40,000 |
10 |
13 |
17 |
20 |
Motor vehicle (other than a car) cents per kilometre rate
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FBT year ending |
0-2500cc |
Over 2500cc |
Motor cycles |
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31 March 2012 |
46c |
55c |
14c |
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31 March 2011 |
45c |
54c |
14c |
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Car parking threshold |
Statutory/benchmark I interest rate |
Record keeping exemption threshold |
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FBT year ending: 31 March 2012: $7.71 31 March 2011: $7.46 |
FBT year ending: 31 March 2012: 7.8% 31 March 2011: 6.65% |
FBT year ending: 31 March 2012: $7,391 31 March 2011: $7,190 |
ATO Tax Rates 2012-2013 Year
Individual Income Tax rates – Residents
The following adjusted tax scale was announced by Prime Minister Julia Gillard on 10 July 2011 as part of the "Clean Energy" carbon tax and pricing package.
The adjusted basic tax scale for 2012-2013 is as follows:
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Taxable income |
Tax on this income* |
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0 - $18,200 |
Nil |
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$18,201 - $37,000 |
19c for each $1 over $18,200 |
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$37,001 - $80,000 |
$3,572 plus 32.5c for each $1 over $37,000 |
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$80,001 - $180,000 |
$17,547 plus 37c for each $1 over $80,000 |
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$180,001 and over |
$54,547 plus 45c for each $1 over $180,000 |
*Plus Medicare Levy as applicable.
The above rates don't include Medicare Levy, which is applied on a progressive basis at the additional rate of 1.5%, or 2.5% if eligible private health insurance cover is not maintained. There are low income and other full or partial exemptions available. A Medicare Levy Surcharge may also be applicable.
Note that along with the increase in "nil tax" threshold to $18,200, the Low Income Tax Offset "LITO" has been reduced to $445. The combined effect is that no tax is payable up to an income of $20,542.
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These rates apply to individuals who are Australian residents for tax purposes.
2011/2012 apply from 1 July 2011
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Taxable income |
Tax on this income |
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0 - $6,000 |
Nil |
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$6,001 - $37,000 |
15c for each $1 over $6,000 |
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$37,001 - $80,000 |
$4,650 plus 30c for each $1 over $37,000 |
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$80,001 - $180,000 |
$17,550 plus 37c for each $1 over $80,000 |
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$180,001 and over |
$54,550 plus 45c for each $1 over $180,000 |
The above rates do not include the Medicare levy of 1.5%.
The above rates do not include the Flood levy.
2010-2011
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Taxable income |
Tax on this income |
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0 - $6,000 |
Nil |
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$6,001 - $37,000 |
15c for each $1 over $6,000 |
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$37,001 - $80,000 |
$4,650 plus 30c for each $1 over $37,000 |
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$80,001 - $180,000 |
$17,550 plus 37c for each $1 over $80,000 |
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$180,001 and over |
$54,550 plus 45c for each $1 over $180,000 |
Use the tables below if you were an Australian resident for tax purposes for the full year and you are entitled to the full tax-free threshold. These rates do not include the Medicare levy of 1.5%
2009-2010
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Taxable income |
Tax payable on this income |
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$1 - $6,000 |
Nil |
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$6,001 - $35,000 |
15c for each $1 over $6,000 |
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$35,001 - $80,000 |
$4,350 plus 30c for each $1 over $35,000 |
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$80,001 - $180,000 |
$17,850 plus 38c for each $1 over $80,000 |
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$180,001 and over |
$55,850 plus 45c for each $1 over $180,000 |
2008-2009
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Taxable income |
Tax on this income |
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$1-$6,000 |
Nil |
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$6,001-$34,000 |
15c for each $1 over $6,000 |
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$34,001-$80,000 |
$4,200 + 30c for each $1 over $34,000 |
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$80,001-$180,000 |
$18,000 + 40c for each $1 over $80,000 |
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$180,001 and over |
$58,000 + 45c for each $1 over $180,000 |
2007-2008
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Tax on this income |
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$1-$6,000 |
Nil |
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$6,001-$30,000 |
15c for each $1 over $6,000 |
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$30,001-$75,000 |
$3,600 + 30c for each $1 over $30,000 |
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$75,001-$150,000 |
$17,100 + 40c for each $1 over $75,000 |
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$150,001 and over |
$47,100 + 45c for each $1 over $150,000 |
Medicare Levy Surcharge
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Single Taxable Income* |
Family Taxable Income* |
Medicare Levy Surcharge |
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$70,000 + |
$140,0003 + |
With no private hospital cover 1% surcharge on taxable income* |
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3 Increases to $141,500 where 2 children + $1,500 per additional child. * Plus reportable fringe benefits.
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Corporate Tax Rates
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Financial Year |
Tax Rate Applicable |
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1999/2000 |
36% |
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2000/2001 |
34% |
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2001/2002 onwards |
30% |
Capital Gains Tax
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Asset Acquired |
Individual |
Company |
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To 19/9/85 |
Nil |
Nil |
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20/9/85 to 21/9/99* |
Tax on 50% of nominal gain OR Tax on 100% of real gain (CPI frozen at 30/9/99) |
Tax on 100% of real gain (CPI frozen at 30/9/99) |
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From 22/9/99* |
Tax on 50% of nominal gain |
Tax on 100% of nominal gain |
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Asset Acquired |
Complying Super Fund |
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To 19/9/85 |
Nil |
Nil |
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To 21/9/99* |
Tax on 2/3 of nominal gain OR Tax on 100% of real gain (CPI frozen at 30/9/99) |
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From 22/9/99* |
Tax on 2/3 of nominal gain |
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* If the asset was held for 12 months or less, the full nominal gain is taxable.
Increasing the superannuation guarantee rate from 9 to 12 per cent
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Year |
Rate (%) |
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2010/11 |
9 |
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2011/12 |
9 |
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2012/13 |
9 |
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2013/14 |
9.25 |
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2014/15 |
9.50 |
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2015/16 |
10 |
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SG Quarter
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Due date for quarterly SG Contributions |
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1 July -30 Sep |
28 Oct |
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1 Oct – 31 Dec |
28 Jan |
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1 Jan – 31 Mar |
28 Apr |
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1 Apr – 30 Jun |
28 July |
Key superannuation rates and thresholds
Concessional contributions cap
Concessional contributions include:
employer contributions (including contributions made under a salary sacrifice arrangement)
personal contributions claimed as a tax deduction by a self-employed person.
Under 50 years of age
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Income year |
Amount of cap |
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2011-12 |
$25,000 |
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2010-11 |
$25,000 |
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2009-10 |
$25,000 |
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2008-09 |
$50,000 |
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2007-08 |
$50,000 |
Over 50 years of age
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Income year |
Amount of cap |
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2012/13 |
$255,000 |
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2011/12 |
$50,000 |
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2010/11 |
$50,000 |
For the year ending 30th June 2013 for people above 50 years who have a total super balance of less than $500,000 amount of cap is still $50,000 p.a.
Taxation of Superannuation Fund Income*
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Accrual Phase (Accumulation Phase) |
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Taxable Contributions |
15% |
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Earnings |
15% |
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Discount Capital Gains (if applicable) |
33.3% |
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Transition to Retirement Pension Phase (pension assets only) |
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Taxable Contributions |
15% |
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Earnings |
0% |
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Discount Capital Gains |
0% |
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Account Based Pension Phase Taxpayer above 60 years of age and retired |
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Taxable Contributions – Cannot be made |
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Earnings |
0% |
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Capital Gains |
0% |
Lump sum amounts may be withdrawn tax free.
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