PAYG Tax Instalment Schedules For Employee wages and salaries
The required pay-as-you-go tax instalment deductions from employees’ wages and salaries in tax tables published by the Australian Taxation Office in downloadable PDF format.
ATO printed tax instalment tables for the Year Until 30 June 2013
For the 2012-13 year are here: Printed Tax Tables (pdf downloads)
UPDATE – 1 JULY 2013: Instalment Tables For The Year to 30 June 2014
The 2013-14 year employee tax instalment tables are here: Tax tables 2013-14
Why Are Tax Instalments Higher Than The Tax Rates?
One reason is the little safety buffer normally built into the tax instalment formulae by the Tax Office, which helps to cover a small amount of other income in your tax return, for example interest received. Most taxpayers with a simple tax return get a small refund in their tax assessment.
Another reason is that if you’re on a lower income, the Tax Instalment tables don’t take the full Low Income Tax Offset (“LITO”) into account. For 2012-13 you only get 18% of the LITO in each pay, and each year it’s a little less, so that by 2015-16 it will be ZERO. The technical details are here.