Tax and Structures
Federal Budget 2018/19 proposals
3. The 2018/19 Federal Budget proposed further changes to personal marginal tax rates in 2022/23 and again in 2024/25. The proposal has been legislated.
| 2022/23 Income Levels | 2022/23 Tax Rates (Excluding Medicare) |
| $0 – $18,200 | NIL |
| $18,201 – $41,000 | NIL + 19% for each $1 over $18,200 |
| $41,001 – $120,000 | $4,332 + 32.5% for each $1 over $41,000 |
| $120,001 – $180,000 | $30,007 + 37% for each $1 over $120,000 |
| $180,001+ | $52,207 + 45% for each $1 over $180,000 |
| 2024/25 Income Levels | 2024/25 Tax Rates (Excluding Medicare) |
| $0 – $18,200 | NIL |
| $18,201 – $41,000 | NIL + 19% for each $1 over $18,200 |
| $41,001 – $200,000 | $4,332 + $32.5% for each $1 over $41,000 |
| $200,000+ | $56,007 + 45% for each $1 over $200,000 |
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