News
INCOME TAX RATES
Release date: June 29 2007
Tax rates 2006-07
| Taxable income | Tax on this income |
|---|---|
| $0 – $6,000 | Nil |
| $6,001 – $25,000 | 15c for each $1 over $6,000 |
| $25,001 – $75,000 | $2,850 plus 30c for each $1 over $25,000 |
| $75,001 – $150,000 | $17,850 plus 40c for each $1 over $75,000 |
| $151,000 and over | $47,850 plus 45c for each $1 over $150,000 |
Tax rates 2007-08
| Taxable income | Tax on this income |
|---|---|
| $1 – $6,000 | Nil |
| $6,001 – $30,000 | 15c for each $1 over $6,000 |
| $30,001 – $75,000 | $3,600 plus 30c for each $1 over $30,000 |
| $75,001 – $150,000 | $17,100 plus 40c for each $1 over $75,000 |
| $151,000 and over | $47,100 plus 45c for each $1 over $150,000 |
The above rates do not include the Medicare levy of 1.5%