ATO Tax Rates - ATO Tax Rates

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AUSTRALIAN TAX RATES AND INFORMATION

ATO Tax Rates 2011-2012 Year (Residents)

The financial year for tax purposes for individuals starts on 1st July and ends on 30 June of the following year.

(For 2012-2013 tax rates, go here.)

The current financial year started on 1 July 2011 and ends on 30 June 2012 and is referred to as the 2011-2012 tax year, or simply the "2012 tax year"

The ATO Personal Tax rates for the current (2011-2012) financial year ending on 30 June 2012 are as follows:

Taxable income	Tax on this income*
0 - $6,000	Nil
$6,001 - $37,000	15c for each $1 over $6,000
$37,001 - $80,000	$4,650 plus 30c for each $1 over $37,000
$80,001 - $180,000	$17,550 plus 37c for each $1 over $80,000
$180,001 and over	$54,550 plus 45c for each $1 over $180,000

*This table doesn't include the Flood Levy or Medicare Levy.

The basic rates for 2011-2012 are the same as the previous year 2010-2011, except that a Flood Levy is added to incomes over $50,000. See Flood Levy FAQ

The above rates don't include the Medicare Levy, which is applied on a progressive basis at the additional rate of 1.5% of taxable income, (or 2.5% if eligible private health insurance cover is not maintained). There are low income and other full or partial exemptions available - more on Medicare Levy here.

News: Budget 2012-13 (8 May 2012):
An excellent 2012 budget summary is available here (click to download PDF)->>
Source: http://www.charteredaccountants.com.au/
Industry-Topics/Tax/Current-issues/
Federal-Budget-2012-13