Tax Rates 2024-2025 Year (Non-Residents)

Following the 2018 Budget a number of adjustments to the personal tax rates were legislated, taking effect in the years from 1 July 2018 through to 1 July 2024. The legislation is here.

The 2024-25 fiscal year commences on 1 July 2024 and ends on 30 June 2025.

Non-residents Tax Scale 2024-25 (as amended February 2024).

This revised tax scale applies from 1 July 2024.

Taxable income	Tax on this income
$0 to $135,000	30 cents for each $1
$135,000 to $190,000	$40,500 plus 37 cents for each $1 over $135,000
$190,001 and over	$60,850 plus 45 cents for each $1 over $190,000

Non-residents do not pay the Medicare Levy.

The effect of the tax scale reflected in the above table is to increase overall tax for incomes over $135,000.

Amended Tax Scale	The tax scale previously
Up to $135,000: 30% Over $135,000 and less than $190,000: 37% Over $190,000: 45%	Up to $200,000: 30% Over $200,000: 45%

New Measures

A number of announced new measures specifically affecting foreign residents were included the MYEFO 2023 statement from the Treasurer on December 13, 2023. Subject to legislation being passed, the measures will have effect within the 2025-26 financial year.

The measures include:

• increased fees for foreign investors in residential housing; reduced Build To Rent project fees (summarised here)
• For contracts from 1 January 2025 the foreign resident capital gains withholding tax rate threshold will be removed (currently at $750,000); and the withholding rate is to be increased from 12.5% to 15%.

This page was last modified 2024-04-14