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Tax Rates

The following rates for 2017-18 apply from 1 July 2017.

Resident Individual - The following rates apply to individuals who are residents of Australia for tax purposes for the entire income year.

Taxable income

Tax on this income

0 - $18,200

Nil

$18,201 - $37,000

19% of excess over $18,200

37,001 - 87,000

$3,572 + 32.5% of excess over $37,000

87,001 - 180,000

$19,822 + 37% of excess over $87,000

$180,001 and over

$54,232 + 47%3 of excess over $180,000

Income of minors

A minor is a person who is under 18 years of age. Special rules apply to the income of minors.

Under these rules, certain types of income received by minors may be taxed at higher rates.

However, minors who are Australian residents do not have to lodge a tax return if they earn less than $416.00 in 2017-18.

Please contact us or telephone Wendy Cole on 555 13 777 to make an appointment with someone from our taxation team.