Tax Rates 2024-2025 Year (Residents)
The 2023 financial year starts on 1 July 2024 and ends on 30 June 2025. The financial year for tax purposes for individuals starts on 1st July and ends on 30 June of the following year.
The above tables do not include Medicare Levy or the effect of any Low Income or Low and Middle Income tax offsets. Medicare Levy is applied on a progressive basis if eligible private health insurance cover is not maintained. There are low income and other full or partial Medicare exemptions available. A Medicare Levy Surcharge may also be applicable. A proposed increase in the basic medicare levy has been abandoned – see notes below.
Entitlement to the low and middle income tax offset
This page was last modified 2018-05-10