TAX RATES 2018 – 2019:

Taxable income Tax on this income
$18,201 – $37,000 19c for each $1 over $18,200
$37,001 – $90,000 $3,572 plus 32.5c for each $1 over $37,000
$90,001 – $180,000 $20,797 plus 37c for each $1 over $90,000
$180,001 and over $54,097 plus 45c for each $1 over $180,000
Tax on this income
0 – $18,200 Nil
$18,201 – $37,000 19c for each $1 over $18,200
$37,001 – $87,000 $3,572 plus 32.5c for each $1 over $37,000
$87,001 – $180,000 $19,822 plus 37c for each $1 over $87,000
$180,001 and over $54,232 plus 45c for each $1 over $180,000
Plus 2.0% Medicare Levy on the Taxable Income above.  There are low income, full or partial Medicare exemptions available. Medicare Levy Surcharge [ MLS ] will be applicable as applicable below.

Medicare Levy Surcharge:

MLS income thresholds for 2014–15, 2015–16, 2016–17, 2017–18 and 2018-19

The Medicare levy surcharge (MLS) is in addition to the Medicare levy.

  • your taxable income
  • your total reportable fringe benefits, and
  • any amount on which family trust distribution tax has been paid
Unchanged Tier 1 Tier 2 Tier 3
Singles 90,000 or less $90,001 – $105,000 $105,001 – $140,000 $140,001 or more
Families $180,000 or less $180,001 – $210,000 $210,001 – $280,000 $280,001 or more
Medicare Levy Surcharge 0% 1% 1.25% 1.5%
Previous Year Tax Rates could be looked by clicking this link

http://www.ato.gov.au/Rates/Individual-income-tax-for-prior-years/

TAX RATES FOR NON RESIDENTS OF AUSTRALIA:

0 – $90,000 32.5c for each $1
$90,001 – $180,000 $29,250 plus 37c for each $1 over $90,000
$180,001 and over $62,550 plus 45c for each $1 over $180,000

ATO LIKELY TO AUDIT !!

This year we will be focused on:

  • High overall expense claim
  • Poor record keeping or non-compliance of records