A Quick Reference For Australian Tax Rates And Related Information
Buildings and Structural Improvements 120-470 Deductions for capital works expenditure A taxpayer can claim a deduction for capital expenditure incurred in constructing capital works, including buildings and structural improvements (ITAA97 Div 43: ss 43-1 to 43-260) (120-500). The deduction is either 2.5% or 4% of the construction expenditure, depending on when construction started and how … Read more
A truck driver was forced to take his case to the Administrative Appeals Tribunal when the Tax Office disallowed overnight travelling expenses claimed in accordance with the Commissioner’s own Determination. The Tax Office each year updates a schedule of expenses for food and accommodation which are deemed “reasonable”, to be relied on for claims instead … Read more
Tax Rates 2008-2009 Year (Residents) The 2008-2009 tax year was from 1 July 2008 to 30 June 2009 Taxable income Tax on this income $1-$6,000 Nil $6,001-$34,000 15c for each $1 over $6,000 $34,001-$80,000 $4,200 + 30c for each $1 over $34,000 $80,001-$180,000 $18,000 + 40c for each $1 over $80,000 $180,001 and over $58,000 … Read more
Tax Rates 2009-2010 Year (Residents) The 2009-2010 tax year is from 1 July 2009 to 30 June 2010 Taxable income Tax on this income 0 – $6,000 Nil $6,001 – $35,000 15c for each $1 over $6,000 $35,001 – $80,000 $4,350 plus 30c for each $1 over $35,000 $80,001 – $180,000 $17,850 plus 38c for each $1 … Read more
Tax Rates 2010-2011 Year (Residents) The financial year for individuals for personal tax purposes starts on 1 July and ends on 30 June of the following year. The 2010-2011 tax year spans the period from 1 July 2010 to 30 June 2011. Taxable income Tax on this income 0 – $6,000 Nil $6,001 – $37,000 … Read more