Lodgment rates and thresholds guide 2018-19

Lodgment rates and thresholds guide
2019-20

To save you having to laboriously search for the right tax rate or relevant threshold, the essential information is right here in one place.

This guide includes tax rates, offset limits and benchmarks, rebate levels, allowances, and essential super as well as FBT rates and thresholds (including current gross-up factors) and student loan repayment rates.

Individuals’ tax rates and offsets

Individual tax rates for residents

2018-19 tax thresholds
Taxable income Rate (%) Tax on this income
$0 – $18,200 0 Nil tax payable
$18,201 – $37,000 19 19c for each $1 over $18,200
$37,001 – $90,000 32.5 $3,572 plus 32.5c for each $1 over $37,000
$90,001 – $180,000 37 $20,797 plus 37c for each $1 over $90,000
$180,001 and above 45 $54,097 plus 45c for each $1 over $180,000
2019-20 tax thresholds
Taxable income Rate (%) Tax on this income
$0 – $18,200 0 Nil tax payable
$18,201 – $37,000 19 19c for each $1 over $18,200
$37,001 – $90,000 32.5 $3,572 plus 32.5c for each $1 over $37,000
$90,001 – $180,000 37 $20797 plus 37c for each $1 over $90,000
$180,001 and above 45 $54,097 plus 45c for each $1 over $180,000

2019-20 resident minors’ tax rate on eligible taxable income

Taxable income Tax on this income
Up to $416 Nil
$417 – $1,307 66% for the part over $416
$1,308 and above 45% on the entire amount

Tax offsets for individuals

2019-20 Senior Australian and Pensioners Tax Offset (SAPTO)
Family status Max. tax offset Shade-out income threshold Cut-out income threshold
Single $2,230 $32,279 $50,119
Married or de facto (each) $1,602 $28,974 $41,790
Separated due to illness (each) $2,040 $31,279 $47,599
Note: Offset entitlements reduce by 12.5c for each $1 of rebate income in excess of the shade-out threshold. No entitlement when rebate income reaches the cut-out threshold.
2019-20 Low Income Tax Offset
Taxable income Tax offset
Up to $37,000 $445
$37,001 – $66,667 $445 – (1.5% of excess over $37,000)
$66,668 and above Nil
2019-20 Low & Middle Income Tax Offset
Taxable income Tax offset
Up to $37,000 $255
$37,001 – $48,000 $255 plus 7.5c for each $1 over $37,000
$48,001 – $90,000 $1080
$90,001 – $126,000 $1,080 less 3c for each $1 over $90,000

Individual tax rates for non-residents

2018-19 tax thresholds
Taxable income Rate (%) Tax on this income
$0 – $90,000 32.5 32.5c for each $1
$90,001 – $180,000 37 $29,250 plus 37c for each $1 over $90,000
$180,001 and above 45 $62,550 plus 45c for each $1 over $180,000
2019-20 tax thresholds
Taxable income Rate (%) Tax on this income
$0 – $90,000 32.5 32.5c for each $1
$90,001 – $180,000 37 $29,250 plus 37c for each $1 over $90,000
$180,001 and above 45 $62,550 plus 45c for each $1 over $180,000

2019-20 non-resident minors’ tax rate on eligible taxable income

Taxable income Tax on this income
Up to $416 32.5% on the entire amount
$417 to $663 $135.20 + 66% for the part over $416
$664 and above 45% on the entire amount

Medicare, Corporate entity tax rates

Medicare

2019-20 Medicare levy: 2% of an individual’s taxable income.
2019-20 Medicare levy for families with dependants
Family taxable income $
Nil levy payable Reduced levy shade-in range (10% of excess over nil band) Normal 2% payable
0 To $37,794 $37,795 – $47,242 $47,243 & above
1 To $41,265 $41,266 – $51,581 $51,582 & above
2 To $44,736 $44,737 – $55,920 $55,921 & above
3 To $48,207 $48,208 – $60,258 $60,259 & above
4 To $51,678 $51,679 – $64,597 $64,598 & above
5 To $55,149 $55,150 – $68,936 $68,937& above
6 To $58,6201 $58,6211 – $73,2752 $73,276 & above2
For more than 6 dependent children and/or students:
1: Add $3,471 per child/student
2: Add $4,339 per child/student
2019-20 Medicare levy surcharge
Income for MLS purposes1 Rate
Single Family2
$0 – $90,000 $0 – $180,000 0%
$90,001 – $105,000 $180,001 – $210,000 1%
$105,001 – $140,000 $210,001 – $280,000 1.25%
$140,001 & above $280,001 & above 1.5%
1: Includes taxable income, reportable fringe benefits, reportable super contributions, net investment losses, exempt foreign income and any net amount subject to family trust distribution tax.
2: Threshold increases by $1,500 for each additional dependent child after the first.
2019-20 Medicare levy reduction threshold
Taxable income Medicare levy payable
$0 – $22,398 Nil
$22,399 – $27,997 10% of excess over $22,398
$27,998 & above 2% of taxable income
2019-20 Medicare levy threshold: Individuals who qualify for the SAPTO
Taxable income Medicare levy payable
$0 – $35,418 Nil
$35,419 – $44,272 10% of excess over $35,418
$44,273 and above 2% of taxable income

Corporate entity tax rates 2019-20

Rate
Private and public companies 27.5% or 30%1
Corporate unit trusts and public trading trusts 27.5% or 30%1
Life Insurance companies
Ordinary class 30%
Complying superannuation class 15%
Non-profit companies
First $416 of taxable income Nil
Taxable income $417 – $832 55% of excess over $4162
Taxable income $833 & above 30% or 27.5%1
1: Tax rate is 27.5% for companies that are base rate entities with an aggregated annual turnover less than $50 million and passive income of no more that 80% of total assessable income from 1 July 2018.
2: Upper limit is $832 for non-profit companies that are base rate entities. If the company is not a base rate entity, the upper limit is $915.

HELP, SFSS, VSL, SSL, ABSTUDY SSL & TSL

2018-19 HELP compulsory repayments

HELP repayment income (HRI) Rate (of HRI)
Below $51,957 Nil
$51,957 – $57,729 2%
$57,730 – $64,306 4%
$64,307 – $70,881 4.5%
$70,882 – $74,607 5%
$74,608 – $80,197 5.5%
$80,198 – $86,855 6%
$86,856 – $91,425 6.5%
$91,426 – $100,613 7%
$100,614 – $107,213 7.5%
$107,214 and above 8%

2018-19 SFSS compulsory repayments

2018-19 SFSS compulsory repayments
Repayment income (RI) Rate (of RI)
Below $51,957 Nil
$51,957 – $64,306 2%
$64,307 – $91,425 3%
$91,426 and above 4%

2019-20 Study and training loan repayment thresholds and rates: HELP, VSL, SFSS, SSL, ABSTUDY SSL AND TSL

Rate (of HRI) HELP repayment income (HRI)
Nil Below $45,881
1% $45,881 – $52,973
2.0% $52,974 – $56,151
2.5% $56,152 – $59,521
3.0% $59,522 – $63,092
3.5% $63,093 – $66,877
4.0% $66,878 – $70,890
4.5% $70,891 – $75,144
5.0% $75,145 – $79,652
5.5% $79,653 – $84,432
6.0% $84,433 – $89,498
6.5% $89,499 – $94,868
7.0% $94,869 – $100,560
7.5% $100,561–$106,593
8.0% $106,594–$112,989
8.5% $112,990–$119,769
9.0% $119,770–$126,955
9.5% $126,956–$134,572
10.0% $134,573 and above

Superannuation, business, CGT and FBT

2019-20 Superannuation rates & thresholds

SLS 1 low rate cap amount (indexed) $210,000
SLS 1 untaxed plan cap amount (indexed) $1,515,000
Life benefit ETP 2 cap (indexed) 3 $210,000
Death benefit ETP 2 cap (indexed) 3 $210,000
Tax-free part of a genuine redundancy payment or early retirement scheme payment (indexed) $10,638
For each completed year of service add $5,320
Government co-contribution (max $500)
Lower income threshold $38,564
Higher income threshold $53,564
Transfer balance cap $1.6m
Contribution caps
Concessional (indexed) $25,000
Concessional (temporary, non-indexed) 4 $25,000
Non-concessional $100,000
CGT cap (indexed) $1,515,000
Non-concessional with bring forward option (non-indexed) 5 $300,000
Carry forward concessional contributions balance less than $500,000
Superannuation Guarantee (SG)
Prescribed minimum employer contribution rate 9.50%
Maximum contribution base (per SG quarter) $55,270
Minimum account based pension withdrawal
Under 65 years 4%
65 to less than 75 years 5%
75 to less than 80 years 6%
80 to less than 85 years 7%
85 to less than 90 years 9%
90 to less than 95 years 11%
95 years and over 14%
Transition to retirement max. withdrawal 10%
Preservation age table
Date of birth:
Before 1 July 1960 55
1 July 1960 – 30 June 1961 56
1 July 1961 – 30 June 1962 57
1 July 1962 – 30 June 1963 58
1 July 1963 – 30 June 1964 59
1 July 1964 or later 60
1: Superannuation Lump Sum (SLS)
2: Employment Termination Payment (ETP)
3: Whole of income cap of $180,000 applies.
4: In 2018-19, a $25,000 cap applies for individuals of all ages.
5: Eligible persons may bring forward the next 2 years’ non-concessional contributions.

Division 7A - benchmark interest rate

2019-20 5.37% 2018-19 5.20%

2019-20 CGT improvement threshold

Improvement threshold $153,093

Motor vehicles

2019-20 2018-19
Luxury car tax limit $67,525 $66,331
Fuel efficient luxury car tax limit $75,526 $75,526
Car depreciation limit $57,581 $57,581
Maximum input tax credit claim for cars $5,234 $5,234

FBT rates and thresholds

FBT and gross-up rates
FBT year Rate Type 1 Type 2
2018-19 47% 2.0802 1.8868
2019-20 47% 2.0802 1.8868

Car fringe benefits

Statutory formula method
The statutory fraction is 20%
Taxable value of a fringe benefit of a motor vehicle other than a car (c/km basis)
FBT year ending 0-2500cc Over 2500cc Motor-cycles
31-Mar-20 55c 66c 16c
31-Mar-19 54c 65c 16c
Record keeping exemption
2019-20 $8,714 2018-19 $8,552
FBT - Benchmark interest rate
2019-20 5.37% 2018-19 5.20%
Car parking threshold
2019-20 $8.95 2018-19 $8.83

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