2010 – 2011 tax rates

/2010 – 2011 tax rates
2010 – 2011 tax rates2015-06-05T11:28:58+00:00

Click here to download the 2010 – 2011 tax card.

The material and information listed below is general commentary only. As such, the comments and information contained below do not represent advice, professional or otherwise. Users should seek their own independent advice before making decisions or acting in any way that concerns them or any related party or interest.

2010 – 2011 Tax Rates Calculation

Total tax payable = Taxable Income x Tax Rates – Rebates – Other Tax Offsets – Imputation Credits + Medicare Levy on taxable income

2010 – 2011 Resident Individuals – Rates

Taxable Income      Tax Payable
$0-$6,000 $Nil
$6,001-$37,000 $Nil + 15% over $6,000
$37,001-$80,000 $4,650 + 30% over $37,000
$80,001-$180,000 $17,550 + 37% over $80,000
Over $180,001 $54,550 + 45% over $180,000

A Tax offset of $1,500 is available to taxpayers with less than $30,000 taxable income. It phases out at $67,050.

2010 – 2011 Resident Minors under 18 – Rates

Unearned income of resident minors under 18 not in full time employment

Unearned Income      Tax Payable
$0-$416 $Nil
$417-$1,307 $Nil + 66% over $416
Over $1,307 45% flat

Minors can effectively receive $3,333 with low income tax rebate.

2010 – 2011 Non-Resident Individuals – Rates

Taxable Income      Tax Payable
$0-$37,000 $0.29 for each $1
$37,001-$80,000 $10,730 + 30% over $37,000
$80,001-$180,000 $26,630 + 37% over $80,000
Over $180,000 $60,630 + 45% over $180,000

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