PrimeSolve maintains updated rates and legislation to ensure our financial models are current. The following section is an overview of each of the calculations/rates that we maintain:
Personal taxation
Personal income tax rates
1 July 2017 – 30 June 2018
Taxable income | Tax payable* – residents | Tax payable – non-residents1 | ||
Up to $18,200 | Nil |
32.5% | ||
$18,201 – $37,000 | Nil + 19% | |||
$37,001 – $87,000 | $3,572 + 32.5% | |||
$87,001 – $180,000 | $19,822 + 37% | $28,275 + 37% | ||
Above $180,000 | $54,232 + 45% | $62,685 + 45% | ||
1 July 2018 – 30 June 2022 (including 2019/20) |
| |||
Taxable income | Tax payable* – residents | Tax payable – non-residents1 | ||
Up to $18,200 | Nil |
32.5% | ||
$18,201 – $37,000 | Nil + 19% | |||
$37,001 – $90,000 | $3,572 + 32.5% | |||
$90,001 – $180,000 | $20,797 + 37% | $29,250 + 37% | ||
Above $180,000 | $54,097 + 45% | $62,550 + 45% | ||
1 July 2022 – 30 June 2024 |
| |||
Taxable income | Tax payable* – residents | Tax payable – non-residents2 |
| |
Up to $18,200 | Nil |
32.5% |
| |
$18,201 – $45,000 | Nil + 19% | |||
$45,001 – $120,000 | $5,092 + 32.5% | |||
$120,001 – $180,000 | $29,467 + 37% | $39,000 + 37% |
| |
Above $180,000 | $51,667 + 45% | $61,200 + 45% |
| |
1 July 2024 – 30 June 2025 |
| |||
Taxable income | Tax payable* – residents | Tax payable – non-residents2 |
| |
Up to $18,200 | Nil |
30% |
| |
$18,201 – $45,000 | Nil + 19% | |||
$45,001 – $200,000 | $5,092 + 30% | |||
Above $200,000 | $51,592 + 45% | $60,000 + 45% |
| |
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