A summary of Australian tax rates and key lodgement dates for the 2024–25 income year. Always verify current rates with the ATO or consult us directly.
Tax rates for Australian residents for the 2024–25 financial year (1 July 2024 – 30 June 2025). The Stage 3 tax cuts apply from 1 July 2024.
| Taxable Income | Tax on This Income | Effective Rate |
|---|---|---|
| $0 – $18,200 | Nil | 0% |
| $18,201 – $45,000 | 19c for each $1 over $18,200 | Up to 10.3% |
| $45,001 – $135,000 | $5,092 + 32.5c for each $1 over $45,000 | Up to 30.3% |
| $135,001 – $190,000 | $34,417 + 37c for each $1 over $135,000 | Up to 34.3% |
| $190,001 and over | $54,997 + 45c for each $1 over $190,000 | Up to 45% |
* These rates do not include the Medicare Levy of 2%.
Most Australian residents pay a Medicare Levy of 2% of their taxable income to fund the Medicare health system.
If you don't hold private hospital cover and your income exceeds $93,000 (singles) or $186,000 (families), an additional surcharge applies:
| Income Threshold | MLS Rate |
|---|---|
| $93,001 – $108,000 | 1.0% |
| $108,001 – $144,000 | 1.25% |
| $144,001+ | 1.5% |
Available to individuals earning up to $66,667. Full offset of $700 for incomes up to $37,500. Reduces progressively after that.
The LMITO ended after the 2021–22 income year. It has not been extended into 2024–25. The Stage 3 tax cuts partially replace this relief.
Available to eligible seniors and pensioners. Couples may combine their SAPTO thresholds if one partner doesn't use their full offset.
For unincorporated small businesses with aggregated turnover under $5 million. Equals 16% of the tax on the individual's net small business income.
| Company Type | Turnover Threshold | Tax Rate |
|---|---|---|
| Base Rate Entity (Small Business) | Aggregated turnover < $50 million | 25% |
| General Corporate Rate | Aggregated turnover ≥ $50 million | 30% |
* A "base rate entity" must derive no more than 80% of its income from passive sources to qualify for the lower rate.
Applied to most taxable goods and services in Australia
Annual turnover at which registration is mandatory
Employer contribution from 1 July 2024 (rising to 12% by 2025–26)
The information on this page is general in nature and is current as of our last update. Tax rates, thresholds, and dates change annually and may be subject to further legislative amendments. This information does not constitute tax advice for your individual circumstances. Please contact us or visit the ATO website to confirm current rates and your obligations.
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