2019-20 Lodgment Rates and Thresholds Guide


For quick access to this guide, add this page to your browser's bookmarks.

Pocket-sized printed copies are included in Membership. Extra copies are now available for purchase.

 

Table of Contents




Disclaimer:
This tool is a guide only. Independent legal, financial and/or tax advice is recommended.


Individual tax rates for residents

2018-19 tax thresholds

 Taxable income Rate (%) Tax on this income
 $0 – $18,200 0 Nil tax payable
 $18,201 – $37,000 19 19c for each $1 over $18,200
 $37,001 – $90,000  32.5 $3,572 plus 32.5c for each $1 over $37,000
 $90,001 – $180,000 37 $20,797 plus 37c for each $1 over $90,000
 $180,001 & above 45 $54,097 plus 45c for each $1 over $180,000

2019-20 tax thresholds

 Taxable income Rate (%) Tax on this income
 $0 – $18,200 0 Nil tax payable
 $18,201 – $37,000 19 19c for each $1 over $18,200
 $37,001 – $90,000 32.5 $3,572 plus 32.5c for each $1 over $37,000
 $90,001 – $180,000 37 $20,797 plus 37c for each $1 over $90,000
 $180,001 & above 45 $54,097 plus 45c for each $1 over $180,000


Back to the top


Individual tax rates for non-residents

2018-19 tax thresholds

 Taxable income Rate (%) Tax on this income
 $0 – $90,000 32.5 32.5c for each $1
 $90,001 – $180,000 37 $29,250 plus 37c for each $1 over $90,000
 $180,001 & above 45 $62,550 plus 45c for each $1 over $180,000

2019-20 tax thresholds

 Taxable income Rate (%) Tax on this income
 $0 – $90,000 32.5 32.5c for each $1
 $90,001 – $180,000 37 $29,250 plus 37c for each $1 over $90,000
 $180,001 & above 45 $62,550 plus 45c for each $1 over $180,000

Back to the top


2019-20 resident minors’ tax rate on eligible taxable income

 Taxable income Tax on this income
 Up to $416 Nil
 $417 $1,307 66% for the part over $416
 $1,308 & above 45% on the entire amount

Back to the top


2019-20 non-resident minors’ tax rate on eligible taxable income

 Taxable income Tax on this income
 Up to $416 32.5% on the entire amount
 $417  $663 $135.20 + 66% for the part over $416
 $664 & above 45% on the entire amount

Back to the top


Corporate entity tax rates 2019-20

Rate

 Private and public companies 27.5% or 30%1
 Corporate unit trusts and public trading trusts 27.5% or 30%1
 Life Insurance companies
 Ordinary class
30%
 Complying superannuation class 15%
 Non-profit companies
 First $416 taxable income Nil
 Taxable income $417 - $832 55% of excess over $4162
 Taxable income $833 and above 30% or 27.5%1
 1: The tax rate is 27.5% for companies that are base rate entities with an aggregated annual turnover less than $50 million and passive income of no more than 80% of total assessable income from 1 July 2018.
 2: Upper limit is $832 for non-profit companies that are base rate entities. If the company is not a base rate entity, the upper limit is $915.

Back to the top


Tax offsets for individuals

 

2019-20 Low Income Tax Offset

 
 Taxable income Tax offset  
 Up to $37,000 $445  
 $37,001 – $66,667 $445 - (1.5% of excess over $37,000)  
 $66,668 & above Nil  

2019-20 Low and Middle Income Tax Offset

 
 Taxable income Tax offset  
 Up to $37,000 $255  
 $37,001 - $48,000 $255 plus 7.5c for each $1 over $37,000  
 $48,001 - $90,000 $1080  
 $90,001 - $126,000 $1,080 less 3c for each $1 over $90,000  

2019-20 Senior Australia and Pensioners Tax Offset (SAPTO)

 
 Family Status Max. tax offset Shade-out income threshold Cut-out income threshold  
 Single $2,230 $32,279 $50,119  
 Married or de facto (each) $1,602 $28,974 $41,790  
 Separated due to illness (each) $2,040 $31,279 $47,599  
Note: Offset entitlements reduce by 12.5c for each $1 of rebate income in excess of the shade-out threshold. No entitlement when rebate income reaches the cut-out threshold.  

Back to the top


FBT rates and thresholds

FBT and gross-up rates

 FBT year Rate Type 1 Type 2
 2018-19
47% 2.0802 1.8868
 2019-20 47% 2.0802 1.8868

Back to the top


Car fringe benefits

Statutory formula method

 The statutory fraction is 20%

Taxable value of a fringe benefit of a motor vehicle other than a car (c/km basis)

 FBT year ending 0 - 2500cc Over 2500cc Motorcycles
 31-Mar-20 55c 66c 16c
 31-Mar-19 54c 65c 16c

Record keeping exemption

 2019-20 $8,714 2018-19 $8,552

FBT - Benchmark interest rate

 2019-20 5.37% 2018-19 5.20%

Car parking threshold

 2019-20 $8.95 2018-19 $8.83

Back to the top


Division 7A - benchmark interest rate

 2019-20 5.37%
 2018-19 5.20%

2019-20 CGT improvement threshold

 Improvement threshold $153,093

Motor vehicles

  2019-20 2018-19
 Luxury car tax limit $67,525 $66,331
 Fuel efficient luxury car tax limit $75,526 $75,526
 Car depreciation limit
$57,581
$57,581
 Maximum input tax credit claim for cars
$5,234
$5,234

Cents per kilometre car rates

 2019-20: 68c per km
 2018-19: 68c per km

Back to the top


2019-20 Superannuation rates and thresholds

 SLS1 low rate cap amount (indexed) $210,000
 SLS1 untaxed plan cap amount (indexed) $1,515,000
 Life benefit ETP2 cap (indexed)3 $210,000
 Death benefit ETP2 cap (indexed)3 $210,000
 Tax-free part of a genuine redundancy payment or early retirement scheme payment (indexed) $10,638
 For each completed year of service add $5,320
 
 Government co-contribution (max $500)
 Lower income threshold $38,564
 Higher income threshold $53,564
 Transfer balance cap $1.6m
 
 Contribution caps
 Concessional (indexed) $25,000
 Concessional (temporary, non-indexed)4 $25,000
 Non-concessional $100,000
 CGT cap (indexed) $1,515,000
 Non-concessional with bring forward option (non-indexed)5 $300,000 
 Carry forward concessional contributions balance less than $500,000 
 
 Superannuation Guarantee (SG)
 Prescribed minimum employer contribution rate 9.50%
 Maximum contribution base (per SG quarter) $55,270
 
 Minimum account based pension withdrawal
 Under 65 years 4%
 65 to less than 75 years 5%
 75 to less than 80 years 6%
 80 to less than 85 years 7%
 85 to less than 90 years 9%
 90 to less than 95 years 11%
 95 years and over 14%
 Transition to retirement maximum withdrawal 10%
 
 Preservation age table
 Date of birth:
 Before 1 July 1960 55
 1 July 1960 – 30 June 1961 56
 1 July 1961 – 30 June 1962 57
 1 July 1962 – 30 June 1963 58
 1 July 1963 – 30 June 1964 59
 1 July 1964 or later 60
1: Superannuation Lump Sum (SLS)
2: Employment Termination Payment (ETP)
3: Whole of income cap of $180,000 applies.
4: In 2019-20, $25,000 cap applies for individuals of all ages.
5: Eligible persons may bring forward the next 2 years' non-concessional contributions.

Back to the top


Medicare

2019-20 Medicare levy

 Medicare levy is 2% of an individual's taxable income.

2019-20 Medicare levy for families with dependants

 Nunmber of dependants  Family taxable income $
 Nil levy payable Reduced levy shade-in range (10% of excess over nil band) Normal 2% payable
 0  To $37,794 $37,795 - $47,242 $47,243 & above
 1  To $41,265 $41,266 - $51,581 $51,582 & above
 2  To $44,736 $44,737 - $55,920 $55,921 & above
 3  To $48,207 $48,208 - $60,258 $60,259 & above
 4  To $51,678 $51,679 - $64,597 $64,598 & above
 5  To $55,149 $55,150 - $68,936 $68,937 & above
 6  To $58,6201 $58,6211-$73,275 $73,275 & above
 For more than 6 dependant children and/or students:
  1: Add $3,356 per child/student

2019-20 Medicare levy surcharge 

 Income for MLS purposes1  Rate
 Single Family2
 $0 - $90,000 $0 - $180,000  0%
 $90,001 - $105,000 $180,001 - $210,000  1%
 $105,001 - $140,000 $210,001 - $280,000  1.25%
 $140,001 and above $280,001 and above  1.5%
 1. Includes taxable income, reportable fringe benefits, reportable super contributions, net investment losses, exempt foreign income and any net amount subject to family trust distribution tax.
 2. Threshold increases by $1,500 for each additional dependent child after the first.

2019-20 Medicare levy reduction threshold

 Taxable income Medicare levy payable
 $0 – $22,398 Nil
 $22,399 - $27,997 10% of excess over $22,398
 $27,998 & above 2% of taxable income

2019-20 Medicare levy threshold: Individuals who qualify for the Senior Australian and Pensioner Tax Offset

 Taxable income Medicare levy payable
 $0 – $35,418 Nil
 $35,419 - $44,272 10% of excess over $35,418
 $44,273 & above 2% of taxable income

Back to the top


2018-19 HELP compulsory repayments

 HELP repayment income (HRI) Rate (of HRI)
 Below $51,957 Nil
 $51,957 - $57,729 2%
 $57,730 - $64,306 4%
 $64,307 - $70,881 4.5%
 $70,882 - $74,607 5%
 $74,608 - $80,197 5.5%
 $80,198 - $86,855 6%
 $86,856 - $91,425 6.5%
 $91,426 - $100,613 7%
 $100,614 - $107,213 7.5%
 $107,214 and above 8%

2018-19 SFSS compulsory repayments

 Repayment income (RI) Rate (of RI)
 Below $51,957 Nil
 $51,957 - $64,306 2%
 $64,307 - $91,425 3%
 $91,426 and above 4%

2018-19 Study and training loan repayment thresholds and rates: HELP, VSL, SFSS, SSL, ABSTUDY SSL AND TSL

 Rate (of HRI) HELP repayment income (HRI)
 Nil Below $45,881
 1% $45,881 – $52,973
 2.0% $52,974 – $56,151
 2.5% $56,152 – $59,521
 3.0% $59,522 – $63,092
 3.5% $63,093 – $66,877
 4.0% $66,878 – $70,890
 4.5% $70,891 – $75,144
 5.0% $75,145 – $79,652
 5.5% $79,653 – $84,432
 6.0% $84,433 – $89,498
 6.5% $89,499 – $94,868
 7.0% $94,869 – $100,560
 7.5% $100,561 – $106,593
 8.0% $106,594 – $112,989
 8.5% $112,990 – $119,769
 9.0% $119,770 – $126,955
 9.5% $126,956 – $134,572
 10.0% $134,573 and above

Back to the top