Australia that will be paid by individuals
Posted: Sun Jan 19, 2025 8:25 am
Income tax is the most relevant tax for any individual in Australia. It applies to income from wages, rent, investments and other economic activities. The rules vary depending on your tax status:
Tax residents: are taxed on all their global nigeria phone number library income. That is, income generated in Australia and also income generated in other countries. The rates are progressive and depend on your annual income:
Up to AUD$ 18,200 ($11,800): exempt.
Between 18,201 and 45,000 Australian dollars (11,801 and 29,200 dollars): 19%.
Between AU$45,001 and AU$120,000 ($29,201 and $78,000): 32.5%.
Between 120,001 and 180,000 Australian dollars (78,001 and 117,000 dollars): 37%.
Over AU$180,000 ($117,000): 45%.
In addition, a 2% levy applies to Medicare, Australia's public health system (to understand its health system, don't miss our guide to health insurance for foreigners in Australia ).
Example: If you are a tax resident earning AU$70,000 ($45,500) a year, you will pay 19% on the first AU$45,000 and 32.5% on the remaining AU$25,000. This equates to approximately AU$14,697 ($9,550) in tax.
Non-tax residents: are taxed only on income generated in Australia and cannot benefit from the tax-free bracket. Rates are higher:
Up to AU$120,000 ($78,000): 32.5%.
Between 120,001 and 180,000 Australian dollars (78,001 and 117,000 dollars): 37%.
Over AU$180,000 ($117,000): 45%.
Tax residents: are taxed on all their global nigeria phone number library income. That is, income generated in Australia and also income generated in other countries. The rates are progressive and depend on your annual income:
Up to AUD$ 18,200 ($11,800): exempt.
Between 18,201 and 45,000 Australian dollars (11,801 and 29,200 dollars): 19%.
Between AU$45,001 and AU$120,000 ($29,201 and $78,000): 32.5%.
Between 120,001 and 180,000 Australian dollars (78,001 and 117,000 dollars): 37%.
Over AU$180,000 ($117,000): 45%.
In addition, a 2% levy applies to Medicare, Australia's public health system (to understand its health system, don't miss our guide to health insurance for foreigners in Australia ).
Example: If you are a tax resident earning AU$70,000 ($45,500) a year, you will pay 19% on the first AU$45,000 and 32.5% on the remaining AU$25,000. This equates to approximately AU$14,697 ($9,550) in tax.
Non-tax residents: are taxed only on income generated in Australia and cannot benefit from the tax-free bracket. Rates are higher:
Up to AU$120,000 ($78,000): 32.5%.
Between 120,001 and 180,000 Australian dollars (78,001 and 117,000 dollars): 37%.
Over AU$180,000 ($117,000): 45%.