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Tax Rates and Tables

Below is a selection of 2013 tax rates and tables for income tax, Medicare Levy 2013, Medicare Levy Surcharge 2013 and Low Income Tax Offset 2013. For help with estimating your 2013 tax return:



Tax rates 2012-13 (Residents)
Tax rates for 2013 hve changed with the most significant change being the higher tax free threshold of $18200. In reality, the combined changes to income thresholds and to the Low Income Tax Offset results in little change overall to the previous year:


0 – $18,200
Nil
$18,201 – $37,000
19c for each $1 over $18,200
$37,001 – $80,000
$3,572 plus 32.5c for each $1 over $37,000
$80,001 – $180,000
$17,547 plus 37c for each $1 over $80,000
$180,001 and over
$54,547 plus 45c for each $1 over $180,000


Medicare Levy 2013:



The general rate of the Medicare levy is 1.5% of taxable income, subject to exclusions and reduced levy as per table below:

Taxpayer type
No Levy if income is less than
Single (no dependent children):
$20542
Couple with combined income or sole parent:

0 dependents
$32279
Each additional dependent child
$32279 +$ 3640 for each additional dependent



Medicare Levy Surcharge 2013:
The general rate of the Medicare levy Surcharge is 1% of taxable income and now varies based on certain income thresholds as per table below:



No change
Threshold 1
Threshold 2
Threshold 3
Singles
$84,000 or less
$84,001-97,000
$97,001-130,000
$130,001 or more





Families
$168,000 or less
$168,001-194,000
$194,001-260,000
$260,001 or more





Rate
0.00%
1.00%
1.25%
1.50%



Low Income Tax Offset:
Low income tax offset has reduced for 2013 along with a change to income thresholds as per the following table:



Income
Rebate Amount
Income <  37000
445
Income > 37000 and < 66668
 $445 -  [(taxable income - $37,000) x 1.5%]
Income > 66667
0


HELP Debt Rates and income Thresholds:



Repayment income
Repayment rate
(% of repayment income)
Below $49,096
Nil
$49,096-$54,688
4.0%
$54,689-$60,279
4.5%
$60,280-$63,448
5.0%
$63,449-$68,202
5.5%
$68,203-$73,864
6.0%
$73,865-$77,751
6.5%
$77,752-$85,564
7.0%
$85,565-$91,177
7.5%
$91,178 and above
8.0%
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