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A Quick Reference For Australian Tax Rates And Related Information
A Quick Reference For Australian Tax Rates And Related Information
The 2027 financial year starts on 1 July 2026 and ends on 30 June 2027. The basic tax scale for this year includes a reduction in the first step rate of 16% to 15%.
2026-27 Tax Calculator
Income ($):
Tax Instalments Paid ($):
SELECT Medicare Levy (%):
0%
1%
1.5%
2%
2.5%
3%
3.5%
Tax thereon: $0
Medicare Levy: $0
LITO: $0
Tax Paid: $0
Tax Payable: $0
* Calculator Notes: Calculations are estimates based on currently legislated tax rates applying to a future period and could change before then in accordance with changes in government policy. Rounding errors may be present in the calculated results. Medicare : For the purposes of estimation the calculator assumes a Medicare exemption up to the last-released single income earner exemption threshold (for 2025-26) which is $28,011, and phased in over that. This figure is inflation-adjusted annually and announced in the May Federal Budget.
LITO : The full value of LITO on lower levels of income is $700, however it is not refundable, and so the actual credit is limited to the amount of tax payable. See LITO info here .
Tax Scale 2026-27
Taxable Income Tax On This Income 0 to $18,200 Nil $18,201 to $45,000 15c for each $1 over $18,200$45,000 to $135,000 $4,020 plus 30c for each $1 over $45,000 $135,000 to $190,000 $31,020 plus 37% for each $1 over $135,000 over $190,000 $51,370 plus 45% for each $1 over $190,000
The above tables do not include Medicare Levy or the effect of any Low Income or Low and Middle Income tax offsets.
There are low income and other full or partial Medicare exemptions available. A Medicare Levy Surcharge may also be applicable and is applied on a progressive basis if eligible private health insurance cover is not maintained.
Note: These tax rates are as set forth in the Federal Budget of 2025 , for which legislation has now been passed.
Comparison Between 2025-26 and 2026-27 Tax Rates
(calculation ignores medicare levy)
Enter your income to calculate the difference
Calculate
New For 2026-27
Proposed $1,000 Standard tax deduction
Included in Labor’s election commitments in April 2025, the Government proposed a $1,000 instant tax deduction for work-related expenses. The measure was confirmed in the Budget 2026 announcements .
The reform aims to provide cost-of-living relief and save time for taxpayers by eliminating the need to collect receipts for deductions under $1,000.
To be eligible for the instant tax deduction, taxpayers have to earn labour income. People who only earn business or investment income and no labour income would continue to claim their deductions in the usual way.
This change is intended to apply from the 2026–27 year.
For draft legislation and other related information, see Instant tax deduction – exposure draft .
See also: Concerns for FBT and Otherwise deductible exemptions
IAWO Update:
Budget 2026 announcement (12 May 2026): The $20,000 instant asset write-off for small businesses with an aggregated annual turnover of less than $10 million is being made permanent from 1 July 2026 .
This page was last modified 2026-04-20
function roundToNearestFiveCents(amount) {
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// Medicare levy with phase-in for low incomes
// No levy: $27,222 or less
// Shade-in range: $27,223 – $34,027 → (income − 27222) × 10%
// Full levy: above $34,027 → income × selected rate
let medicareLevy;
if (income <= 28011) {
medicareLevy = 0;
} else if (income <= 35014) {
medicareLevy = (income - 28011) * 0.10;
} else {
medicareLevy = medicarePercentage / 100 * income;
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let lito;
if (income <= 37500) {
lito = 700;
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} else if (income <= 66667) {
lito = 325 - 0.015 * (income - 45000);
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let litopluslmito = lito;
litopluslmito = Math.min(litopluslmito, taxThereon);
litopluslmito = Math.max(litopluslmito, 0);
let taxPayable = taxThereon + medicareLevy - litopluslmito - taxInstalmentsPaid;
taxPayable = roundToNearestFiveCents(taxPayable);
document.getElementById('taxThereonResult').textContent = 'Tax thereon: ' + formatCurrency(taxThereon);
document.getElementById('medicareLevyResult').textContent = 'Medicare Levy: ' + formatCurrency(medicareLevy);
document.getElementById('litoResult').textContent = 'LITO: ' + formatCurrency(litopluslmito);
document.getElementById('taxPaidResult').textContent = 'Tax Paid: ' + formatCurrency(taxInstalmentsPaid);
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if (incomeValue <= 45000) return Math.round(700 - (incomeValue - 37500) * 0.05);
if (incomeValue <= 66666) return Math.round(325 - (incomeValue - 45000) * 0.015);
return 0;
}
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let grossTax;
if (comparisonIncomeValue <= 18200) grossTax = 0;
else if (comparisonIncomeValue <= 45000) grossTax = Math.round((comparisonIncomeValue - 18200) * 0.16);
else if (comparisonIncomeValue <= 135000) grossTax = Math.round(4288 + (comparisonIncomeValue - 45000) * 0.30);
else if (comparisonIncomeValue <= 190000) grossTax = Math.round(31288 + (comparisonIncomeValue - 135000) * 0.37);
else grossTax = Math.round(51638 + (comparisonIncomeValue - 190000) * 0.45);
const lito = calculateLITO(comparisonIncomeValue);
return Math.max(0, grossTax - lito);
}
function calculateTaxFor202627(comparisonIncomeValue) {
let grossTax;
if (comparisonIncomeValue <= 18200) grossTax = 0;
else if (comparisonIncomeValue <= 45000) grossTax = Math.round((comparisonIncomeValue - 18200) * 0.15);
else if (comparisonIncomeValue <= 135000) grossTax = Math.round(4020 + (comparisonIncomeValue - 45000) * 0.30);
else if (comparisonIncomeValue <= 190000) grossTax = Math.round(31020 + (comparisonIncomeValue - 135000) * 0.37);
else grossTax = Math.round(51370 + (comparisonIncomeValue - 190000) * 0.45);
const lito = calculateLITO(comparisonIncomeValue);
return Math.max(0, grossTax - lito);
}
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return;
}
const taxAmount202526 = calculateTaxFor202526(comparisonIncomeValue);
const taxAmount202627 = calculateTaxFor202627(comparisonIncomeValue);
const taxDifferenceAmount = taxAmount202627 - taxAmount202526;
const taxDifferenceLabel = taxDifferenceAmount > 0 ? "higher" : "lower";
document.getElementById('results').innerHTML = `
<p>2025-26 Tax:   $${taxAmount202526.toLocaleString()}</p>
<p>2026-27 Tax:   $${taxAmount202627.toLocaleString()}</p>
<p>The tax in 2026-27 is ${taxDifferenceLabel} by $${Math.abs(taxDifferenceAmount).toLocaleString()}</p>
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