| Taxable income | Tax rates 2024–25 |
|---|---|
$0 – $18,200 |
0% |
$18,201 – $45,000 |
16% over $18,200 |
$45,001 – $135,000 |
$4,288 + 30% over $45,000 |
$135,001 – $190,000 |
$31,288 + 37% over $135,000 |
$190,001 + |
$51,638 + 45% over $190,000 |
Rates shown do not include the Medicare levy or the Medicare levy surcharge.
| Marital status | Eligible for | Taxable income |
|---|---|---|
Single or member of a couple |
LITO |
$22,575 |
Single |
LITO and SAPTO |
$35,813 |
Member of a couple (each) |
LITO and SAPTO |
$31,888 |
For full details of assumptions and calculations, please see the FirstTech Quick reference guide – Effective tax-free income thresholds.
| Taxable income | Tax rates 2024–25 |
|---|---|
$0 – $135,000 |
30% |
$135,001 – $190,000 |
$40,500 + 37% over $135,000 |
$190,001+ |
$60,850 + 45% over $190,000 |
A non-resident is generally only taxable on Australian sourced income.
Non-residents do not pay the Medicare levy or the Medicare levy surcharge.
| Taxable income | Tax rates 2024–25 |
|---|---|
$0 – $45,000 |
15% |
$45,001 – $135,000 |
$6,750 + 30% over $45,000 |
$135,001 – $190,000 |
$33,750 + 37% over $135,000 |
$190,001+ |
$54,100 + 45% over $190,000 |
Rates shown do not include the Medicare levy or the Medicare levy surcharge.
Note: As a result of the 2021 Federal and High Court decision in Addy v Commissioner of Taxation, eligible working holiday makers may be taxed on the same basis as a resident Australian national if they are both:
from a non-discrimination article (NDA) country
an Australian resident for tax purposes.
For further information please see Taxation of Australian resident WHMs from NDA countries at ato.gov.au.
A working holiday maker is an individual who holds:
a Subclass 417 (Working Holiday) visa
a Subclass 462 (Work and Holiday) visa or
certain related bridging visas.
| Eligible taxable income | Tax payable 2024–25 |
|---|---|
$0 – $416 |
Nil |
$417 – $1,307 |
Greater of:
|
$1,308+ |
45% on the whole of the eligible taxable income |
Rates shown above do not include the Medicare levy or the Medicare levy surcharge.
generally income derived by a minor that is not from their personal exertion
generally taxed at the top marginal tax rate and is not eligible for the low income tax offset (LITO)
may include dividends, interest, rent, royalties, and managed fund and family trust distributions
excepted income or income where a minor is an excepted person, e.g. a disabled minor
taxed at general resident tax rates or at non-resident rates where the minor is a prescribed non-resident
eligible for LITO
may include income from work, compensation payments and inheritances
| Company type | Tax rate 2024–25 |
|---|---|
Base rate entity |
25% |
Company other than base rate entity |
30% |
To qualify as a base rate entity, the entity must have aggregated turnover of less than $50 million. From 1 July 2017, an entity will only be a base rate entity if no more than 80% of its assessable income for the year of income is 'base rate entity passive income'. Base rate entity passive income includes: distributions, franking credits, non-share dividends, interest, royalties, rent, gains on qualifying securities and net capital gains.
| Entity or benefit | Tax payable 2024–25 |
|---|---|
Complying superannuation fund |
15% |
Non‑complying superannuation fund |
45% |
Insurance bonds (issued by life insurance |
30%1 |
Friendly society bonds |
30%1 |
Fringe benefits |
47% |
30%1 |
1 |
Investor tax offset is 30% on assessable withdrawals |
| Income type | Comments | General rate | |
|---|---|---|---|
Franked dividends |
Generally exempt from withholding tax |
0% |
|
Unfranked dividends |
If recipient’s country of residence has tax treaty with Australia1 |
15% |
|
If no tax treaty with Australia |
30% |
||
Interest |
Unless a tax treaty provides a lower rate1 |
10% |
|
Royalties |
If recipient’s country of residence has tax treaty with Australia1 |
15% |
|
If no tax treaty with Australia |
30% |
||
Capital gains on taxable Australian property over threshold |
For contracts entered into on or after 1 July 2017, where a non-resident disposes of taxable Australian property, the purchaser must withhold 12.5% of the purchase price and pay that amount to the ATO. The withheld amount is then used to offset the non-resident’s CGT liability. However, no withholding is required in respect of real property transactions with a market value of less than $750,000. For more information please see ATO page Capital gains withholding – a guide for conveyancers |
12.5% |
|
Other income (e.g. capital gains on taxable Australian property under threshold, rent) |
No withholding tax, but subject to non‑resident income tax rates |
N/A |
|
Distributions from managed funds (excluding franked dividends, unfranked dividends, interest and royalties) |
From non‑taxable Australian propertye.g. realised capital gains on listed shares – no withholding tax |
N/A |
|
Other incomee.g. rent and realised capital gains on taxable Australian real property
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
Departing Australia Superannuation Payment (DASP) – not WHM3 |
Tax-free component |
0% |
|
Taxable component (taxed) |
35% |
||
Taxable component (untaxed) |
45% |
||
Departing Australia Superannuation Payment (DASP) – WHM3 |
Tax-free component |
0% |
|
Taxable component (taxed) |
65% |
||
Taxable component (untaxed) |
65% |
||
Superannuation lump sums (taxed funds) |
If age 60 or over |
0% |
|
If under age 60, see Taxation of super benefits section. Medicare levy is not applicable to super lump sums paid to non-residents. |
|
||
Superannuation pension payments |
If age 60 or over |
0% |
|
If under age 60 |
Depends on tax treaty |
||
Tax‑free component
– untaxed element |
Tax‑free component
– untaxed element |
30% |
30% |
30% |
45% |
No DTA |
No DTA |
No DTA |
30% |
1 |
If Australia has a tax treaty with the recipient’s country of residence and a lower rate is specified in the treaty, the lower rate will apply. Always refer to the specific treaty for any variations in the general rates shown. |
2 |
A fund payment made to a resident of an 'information exchange country' will be subject to a withholding tax of 10%, 15% or 30%. See reg 34 Taxation Administration Regulations 2017 for a list of information exchange countries, and see s4 Income Tax (Managed Investment Trust Withholding Tax) Act 2008 for applicable tax rates. |
3 |
A working holiday maker at a particular time is someone who holds, at that time - a Subclass 417 (Working Holiday) Visa or a Subclass 462 (Work and Holiday) Visa or a bridging visa in relation to an application for a 417 or 462 visa. If the payment includes superannuation contributions made while a person held either a subclass 417 (Working Holiday) visa, or 462 (Work and Holiday) visa – and/or an associated bridging visa the 65% rate applies to the entire taxable component of the withdrawal. |
The full Medicare levy is 2.0% of taxable income. A reduced Medicare levy applies where taxable income is below the thresholds in the table below.
| Income category | No levy payable if taxable income is below: | Reduced levy payable if taxable income does not exceed: |
|---|---|---|
Taxpayers entitled to seniors and pensioners tax offset (SAPTO) |
||
Individual |
$41,0891 |
$51,3612 |
Family (combined income)3 |
$57,198 |
$71,497 |
For each dependent child or student, add: |
$4,027 |
$5,034 |
All other taxpayers |
||
Individual |
$26,0001 |
$32,5002 |
Family (combined income)3 |
$43,846 |
$54,807 |
For each dependent child or student, add: |
$4,027 |
$5,034 |
1 |
Medicare Levy is not payable if an individual’s taxable income is below this threshold. Where an individual’s taxable income is more than the threshold, they may not be liable to pay Medicare Levy if they are a member of a couple or a sole parent and their family income is below the family threshold. |
2 |
Where an individual’s taxable income exceeds this threshold, the individual may still qualify for a Medicare Levy reduction based on their family taxable income if they are a member of a couple or a sole parent. |
3 |
Family (combined income) thresholds apply to a couple or a sole parent. |
Individual reduced levy = 0.10 x (taxable income – relevant taxable income threshold)
Family reduced levy is more complex and is based on family income (combined taxable income of taxpayer and spouse).
Individuals and families on incomes above the MLS thresholds are liable to pay the MLS for any period during the income year that they, or their dependants, did not have private patient hospital cover.
| Base Tier |
Tier 1 | Tier 2 | Tier 3 |
|
|---|---|---|---|---|
Singles |
$97,000 or less |
$97,001 – $113,000 |
$113,001 – $151,000 |
$151,001 or more |
Families |
$194,000 or less |
$194,001 – $226,000 |
$226,001 – $302,000 |
$302,001 or more |
Rates |
0.0% |
1.0% |
1.25% |
1.5% |
If there is more than one dependent child, these thresholds are increased by $1,500 for each child after the first.
The single threshold is indexed to average weekly ordinary time earnings and increased in $1,000 increments (rounded down).
The family thresholds are double the relevant singles threshold.
| Income for Medicare levy surcharge and private health insurance rebate (income for surcharge purposes) |
|---|
Taxable income |
+ The amount on which family trust distribution tax has been paid |
+ Reportable fringe benefits |
+ Total net investment losses (financial investments and rental properties) |
+ Reportable superannuation contributions |
– Assessable First Home Super Saver released amounts |
| Owner | Acquisition date | Asset held for | Assessable capital gain |
|---|---|---|---|
Individual, company, trust |
Before 20/09/85 |
Any length of time |
Generally no CGT payable |
Superannuation fund |
Before 30/06/88 |
More than 12 months |
Choice of: 1. disposal proceeds - frozen cost base,1,2 or 2. (1 - ⅓) × (disposal proceeds - cost base1) |
Any |
From either of the above dates (as applicable) to 20/09/99 |
More than 12 months |
Choice of: 1. disposal proceeds - frozen cost base2 or 2. (1 - discount %) x (disposal proceeds - cost base3) |
Any |
On or after 21/09/99 |
12 months or less |
Disposal proceeds - cost base3
|
|
|
More than 12 months |
(1 - discount %) x (disposal proceeds - cost base3) |
1 |
Cost base is the greater of the asset’s market value on 30 June 1988 and the original purchase price. |
2 |
Cost base indexed by an indexation factor = CPI for quarter ended 30 Sept 1999 / CPI for quarter in which asset acquired. Refer to CPI numbers for CGT calculations. |
3 |
Cost base not indexed. |
Discount % varies with owner – 50% for individuals and trusts, 33.3% for superannuation funds. Companies are not eligible for CGT discount.
50% discount not available to non-residents in respect of capital gains that accrue from 8 May 2012.
Special rules apply for assets acquired through a deceased estate and some other special categories of assets (e.g. main residence).
Net capital gain is included in assessable income and taxed at marginal tax rates for individuals and trusts, 15% for superannuation funds and 30% for companies (25% for companies that are base rate entities).
The ABS changed the index reference base in September 2012 from 1989–90 to 2011–12. As a result all CPI rates have been reset and the previous rates no longer apply.
| Year | March quarter | June quarter | September quarter | December quarter |
|---|---|---|---|---|
1985 |
- |
- |
39.7 |
40.5 |
1986 |
41.4 |
42.1 |
43.2 |
44.4 |
1987 |
45.3 |
46.0 |
46.8 |
47.6 |
1988 |
48.4 |
49.3 |
50.2 |
51.2 |
1989 |
51.7 |
53.0 |
54.2 |
55.2 |
1990 |
56.2 |
57.1 |
57.5 |
59.0 |
1991 |
58.9 |
59.0 |
59.3 |
59.9 |
1992 |
59.9 |
59.7 |
59.8 |
60.1 |
1993 |
60.6 |
60.8 |
61.1 |
61.2 |
1994 |
61.5 |
61.9 |
62.3 |
62.8 |
1995 |
63.8 |
64.7 |
65.5 |
66.0 |
1996 |
66.2 |
66.7 |
66.9 |
67.0 |
1997 |
67.1 |
66.9 |
66.6 |
66.8 |
1998 |
67.0 |
67.4 |
67.5 |
67.8 |
1999 |
67.8 |
68.1 |
68.7 |
- |
CGT indexation frozen at September quarter 1999.
Age Pension calculator