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; motor vehicles
Individual tax rates for residents
| 2017-18 tax thresholds |
| Taxable income |
Rate (%) |
Tax on this income |
| $0 – $18,200 |
|
Nil tax payable |
| $18,201 – $37,000 |
19 |
19c for each $1 over $18,200 |
| $37,001 – $87,000 |
32.5 |
$3,572 plus 32.5c for each $1 over $37,000 |
| $87,001 – $180,000 |
37 |
$19,822 plus 37c for each $1 over $87,000 |
| $180,001 and above |
45* |
$54,232 plus 45c for each $1 over $180,000 |
| 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 |
| $90000 – $180,000 |
37 |
$20797 plus 37c for each $1 over $90000 |
| $180,001 and above |
45 |
$54,097 plus 45c for each $1 over $180,000 |
Individual tax rates for non-residents
| 2017-18 tax thresholds |
| Taxable income |
Rate (%) |
Tax on this income |
| $0 – $87,000 |
32.5 |
32.5c for each $1 |
| $87,001 – $180,000 |
37 |
$28,275 plus 37c for each $1 over $87,000 |
| $180,001 and above |
45* |
$62,685 plus 45c for each $1 over $180,000 |
| 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 |
2018-19 resident minors’ tax rate
| Taxable income |
Tax on this income |
| Up to $416 |
Nil |
| $417 – $1,307 |
66% for the part over $416 |
| $1,308 and above |
45% of total income that is not excepted income* |
| *Excepted income includes employment income |
2018-19 non-resident minors’ tax rate on eligible income
| Taxable income |
Tax on this income |
| $0-$90,000 |
32.5% on the entire amount |
| $90,001-$180,000 |
$29,250 + 37% on the part over $90,000 |
| $180,001 and over |
$62,550 + 45% of excess over $180,000 |
Tax offsets for individuals
2018-19 Low Income Tax Offset
| Taxable income |
Tax offset |
| $0 – $37,000 |
$445 |
| $37,001 – $66,666 |
$445 – (1.5% of excess over $37,000) |
| $66,667 and above |
Nil |
2018-19 Low and Middle Income Tax Offset
| Taxable income |
Tax offset |
| Up to $37,000 |
$200 |
| $37,000 – $48,000 |
$200 plus 3c for each $ over $37,000 |
| $48,001 – $90,000 |
$530 |
| $90,001 – $125,333 |
$530 less 1.5c for each $ over $90,000 |
2017-18 Net Medical Expenses Offset
| Tax offset claimable 1 |
Adjusted taxable income |
| 20% of net medical expenses over $2,333 |
Single2: $90,000 or less
Family3: $180,000 or less |
| 10% of net medical expenses over $5,504 |
Single2: above $90,000
Family3: above $180,000 |
1: Offset for 2017-18 only available for disability aids, attendant care or aged care.
2: Single at 30 June 2018, no dependent children.
3: Has a spouse at 30 June 2018, or dependent children at any time during 2017-18, or both. |
2017-18 Dependant (Invalid & Carer) Offset
| Adjusted taxable income is: |
Offset amount |
| $282 or less |
$2,666* |
| $283 – $10,946 |
$2,627* – [(ATI – $282) ÷ 4] |
| $10,946 and above |
Nil |
| *This is the maximum offset. Assumes dependant status maintained for full income year. |
2018-19 Senior Australian and Pensioners Tax Offset
| Family status |
Max. tax offset |
Shade-out income threshold |
Cut-out income threshold |
| Single |
$2,230 |
$32,279 |
$50,119 |
| Married / 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. |
Motor vehicles
|
2018-19 |
2017-18 |
| Luxury car tax limit |
$66,331 |
$65,094 |
| Fuel efficient luxury car tax limit |
$75,526 |
75,526 |
| Car depreciation limit |
$57,581 |
$57,581 |
| Max. input tax credit claim for cars |
$5,234 |
$5,234 |
| Cents per km car rates |
| 2018-19: 68c per km* |
2017-18: 66c per km* |
| *regardless of engine size |
Medicare, HELP and SFSS
Medicare
2017-18 Medicare levy
Medicare levy is 2% of an individual’s taxable income.
2017-18 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 $37,089 |
$37090 – $46361 |
$46362 & above |
| 1 |
To $40,495 |
$40496 – $50618 |
$50619 & above |
| 2 |
To $43,901 |
$43,902 – $54,876 |
$54,877 & above |
| 3 |
To $47,307 |
$47,308 – $59,133 |
$59,134 & above |
| 4 |
To $50,713 |
$50,714 – $63,391 |
$63,392 & above |
| 5 |
To $54,119 |
$54,120 – $67,648 |
$67,649 & above |
| 6 |
To $57,525 1 |
$57,526 1 – $71,906 |
$71,907 2 & above |
For more than 6 dependent children and/or students:
1: Add $3,406 per child/student
2: Add $4,257 per child/student |
2018-19 Medicare levy surcharge
| Income for MLS purposes 1 |
Rate |
| Single |
Family 2 |
| $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 and above |
$280,001 and 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. |
2018-19 Medicare levy reduction threshold
| Taxable income |
Medicare levy payable |
| $0 – $21,980 |
Nil |
| $21,980 – $27,068 |
10% of excess over $21,980 |
| $27,069 and above |
2% of taxable income |
2018-19 Medicare levy threshold: Individuals who qualify for Senior Australian and Pensioner Tax Offset
| Taxable income |
Medicare levy payable |
| $0 – $34,758 |
Nil |
| $34,758 – $42,805 |
10% of excess over $34,758 |
| $42,806 and above |
2% of taxable income |
2017-18 HELP compulsory repayments
| HELP repayment income (HRI) |
Rate (of HRI) |
| Below $55,874 |
Nil |
| $55,874 – $62,238 |
4% |
| $62,239 – $68,602 |
4.5% |
| $68,603 – $72,207 |
5% |
| $72,208 – $77,618 |
5.5% |
| $77,619 – $84,062 |
6% |
| $84,063 – $88,486 |
6.5% |
| $88,487 – $97,377 |
7% |
| $97,378 – $103,765 |
7.5% |
| $103,766 and above |
8% |
2017-18 SFSS compulsory repayments
| Repayment income (RI) |
Rate (of RI) |
| Below $55,874 |
Nil |
| $55,874 – $68,602 |
2% |
| $68,603 – $97,377 |
3% |
| $97,378 and above |
4% |
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
| 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% |
This information has been prepared without taking into account your objectives, financial situation or needs. Because of this, you should, before acting on this information, consider its appropriateness, having regard to your objectives, financial situation or needs.
Superannuation, business, CGT and FBT
2018-19 Superannuation rates & thresholds
| SLS 1 low rate cap amount (indexed) |
$205,000 |
| SLS 1 untaxed plan cap amount (indexed) |
$1,480,000 |
| Life benefit ETP 2 cap (indexed) 3 |
$205,000 |
| Death benefit ETP 2 cap (indexed) 3 |
$205,000 |
| Tax-free part of a genuine redundancy payment or early retirement scheme payment (indexed) |
$10,399 |
| For each completed year of service add |
$5,200 |
| Government co-contribution (max $500) |
| Lower income threshold |
$37,297 |
| Higher income threshold |
$52,697 |
| From 1 July 2017, total superannuation balance cannot exceed $1.6m. |
| Contribution caps |
| Concessional (indexed) |
$25,000 |
| Concessional (temporary, non-indexed) 4 |
$25,000 |
| Non-concessional |
$100,000 |
| CGT cap (indexed) |
$1,480,000 |
| Non-concessional with bring forward option (non-indexed) 5 |
$300,000 |
| Superannuation Guarantee (SG) |
| Prescribed minimum employer contribution rate |
9.50% |
| Maximum contribution base (per SG quarter) |
$54,030 |
| 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% |
| Maximum pension withdrawal |
| Transition to retirement |
10% |
| Account based pension |
100% |
| 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. |
| Corporate entity tax rates 2018-19 |
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 – $831 |
55% of excess over $416 2 |
| Taxable income $832 and above |
30% or 27.5% 1 |
1: Tax rate is 27.5% for companies that are BREs with aggregated annual turnover less than $50 million and passive income no more than 80% of total assessable income from 1 July 2018.
2: Upper limit is $832 for non-profit companies that are BREs from 1 July 2018. |
Division 7A - benchmark interest rate
| 2018-19 5.20% |
2017-18 5.30% |
2018-19 CGT improvement threshold
| Improvement threshold |
$150,386 |
FBT rates and thresholds
FBT and gross-up rates
| FBT year |
Rate |
Type 1 |
Type 2 |
| 2018-19 |
47% |
2.0802 |
1.8868 |
| 2017-18 |
47% |
2.0802 |
1.8868 |
Car fringe benefits
Statutory formula method
The statutory fraction is 20% * .
*Applies to “commitments” entered into from May 2011. Previous statutory fractions based on kms travelled may be used for pre-May 2011 commitments.
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-19 |
54c |
65c |
16c |
| 31-Mar-18 |
53c |
63c |
16c |
Record keeping exemption
| 2018-19 $8,552 |
2017-18 $8,393 |
FBT - Benchmark interest rate
| 2018-19 5.20% |
2017-18 5.25% |
Car parking threshold
| 2018-19 $8.83 |
2017-18 $8.66 |
