Australian Individual Income Tax Brackets & Rates

I got bored so I decided to create a spreadsheet and a graph to calculate the percentage of income tax, how much you earn after tax and the percentage of tax you’re paying against your pre-tax income.

The graph above displays these information with salaries ranging from $10,000 to $300,000. These calculations do not take into account any offsets but are merely simple calculations.

You can see the tax percentage spikes up around the $40,000 – $100,000 bracket and plateau’s a bit after that.

The tax rates for the financial year of 2008/2009 are,

• $0 – $6000 => 0%
• $6001 – $30,000 => 15%
• $30,001 – $80,000 => 30%
• $80,001 – $180,000 => 40%
• $180,001 and over => 45%

You can visit the Australian Tax Office website for more information on income tax rates.