Thresholds & Tax Rates

Australian Residents Tax Rates 2022-23

Taxable income Tax on income
0-$18,200 Nil
$18,200 – $45,000 19c for each $1 over $18,200
$45,001 – $120,000 $5,092 plus 32.5c for each $1 over $45,000
$120,000 – $180,000 $29,467 plus 37c for each $1 over $120,000
$180,000 and over $51,667 plus 45c for each $1 over $180,000
Compulsory superannuation rate: 10.5%

 

Medicare Levy of 2% applies (not applicable to low income earners).
Low and middle income tax offset (LMITO) to be removed in this year

 

Non Residents Tax Rates 2022-23

Taxable income Tax on income
$0 – $120,000 32.5c for each $1
$120,001 – $180,000 $39,000 plus 37c for each $1 over $120,000
Over $180,000 $61,200 plus 45c for each $1 over $180,000
$120,000 – $180,000 $29,467 plus 37c for each $1 over $120,000
Compulsory superannuation rate: 10.5%

Concessional Contributions Caps

Income Year Your Concessional Contributions Caps
2021-22 $27,500
2020-21 $25,000
2019-20 $25,000
2018-19 $25,000

 

Non Concessional Contributions Caps

Income Year Amount of Cap
2021-22 $110,000
2020-21 $100,000
2019-20 $100,000
2018-19 $100,000
2017-18 $100,000
2016-17 $180,000

 

Division 293 Threshold

Income Year Threshold
2017-18 onwards $250,000
216-17 $300,000
2012-13 to 2015-16 $300,000

 

Super Guarantee Percentage

Period General super guarantee (%)
1 July 2016 – 30 June 2021 9.50
1 July 2021 – 30 June 2022 10.00
1 July 2022 – 30 June 2023 10.50
1 July 2023 – 30 June 2024 11.00
1 July 2024 – 30 June 2025 11.50
1 July 2025 – 30 June 2028
and onward		 12.00