Thresholds & Tax Rates
Australian Residents Tax Rates 2024-25
| Taxable income | Tax on income |
|---|---|
| 0-$18,200 | Nil |
| $18,200 – $45,000 | 16c for each $1 over $18,200 |
| $45,001 – $135,000 | $4,288 plus 30c for each $1 over $45,000 |
| $135,001 – $190,000 | $31,288 plus 37c for each $1 over $135,000 |
| $190,001 and over | $51,638 plus 45c for each $1 over $190,000 |
| Compulsory superannuation rate: 11.5% | |
Medicare Levy of 2% applies (not applicable to low income earners).
Low and middle income tax offset (LMITO) ended on 30.06.2022
Non-Residents Tax Rates 2024-25
| Taxable income | Tax on income |
|---|---|
| $0 – $135,00 | 30c for each $1 |
| $135,001 – $190,000 | $40,500 plus 37c for each $1 over $135,000 |
| $190,001 and over | $60,850 plus 45c for each $1 over $190,000 |
| Compulsory superannuation rate: 11.5% | |
Concessional Contributions Caps
| Income Year | Your Concessional Contributions Caps |
|---|---|
| 2024-25 | $30,000 |
| 2023-24 | $27,500 |
| 2022-23 | $27,500 |
| 2021-22 | $27,500 |
Non-Concessional Contributions Caps
| Income Year | Amount of Cap |
|---|---|
| 2024-25 | $120,000 |
| 2023-24 | $110,000 |
| 2022-23 | $110,000 |
| 2021-22 | $110,000 |
Division 293 Threshold
| Income Year | Threshold |
|---|---|
| 2017-18 and onwards | $250,000 |
| 2016-17 | $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 2026 | 12.00 |
| 1 July 2026 – 30 June 2027 | 12.00 |
| 1 July 2027 – 30 June 2028 and onwards | 12.00 |
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