AUSTRALIA: INDIVIDUAL INCOME TAX RATES – FOREIGN RESIDENTS (04/08/2014)

AUSTRALIA: INDIVIDUAL INCOME TAX RATES – FOREIGN RESIDENTS (04/08/2014)

AUSTRALIA: INDIVIDUAL INCOME TAX RATES – FOREIGN RESIDENTS

These rates apply to individuals who are not Australian residents for tax purposes.

It is important to remind you that you are an Australian resident for tax purposes if:

■ you have always lived in Australia or you have come to Australia and live here permanently
■ you have been in Australia continuously for six months or more, and for most of that time you worked in the one job and lived at the same place
■ you have been in Australia for more than six months during 2012-13, unless your usual home is overseas and you do not intend to live in Australia
■ you go overseas temporarily and you do not set up a permanent home in another country, or
■ you are an overseas student who has come to Australia to study and are enrolled in a course that is more than six months long.
If you do not satisfy at least one of the above conditions you cannot be considered an Australian resident for tax purposes and so the following rates will apply. Foreign residents are not required to pay Medicare levy.

Tax rates 2013–14
The following rates for 2013–14 apply from 1 July 2013.
Taxable income Tax on this income
0 – $80,000 32.5c for each $1
$80,001 – $180,000 $26,000 plus 37c for each $1 over $80,000
$180,001 and over $63,000 plus 45c for each $1 over $180,000

Tax rates 2014–15
The following rates for 2014–15 apply from 1 July 2014.
Taxable income Tax on this income
0 – $80,000 32.5c for each $1
$80,001 – $180,000 $26,000 plus 37c for each $1 over $80,000
$180,001 and over $63,000 plus 45c for each $1 over $180,000

Paola Rossini – accredited Tax Help volunteer by the Australian Taxation Office
All the information published comes from the Australian Taxation Office Website (https://www.ato.gov.au/Individuals/Income-and-deductions/How-much-income-tax-you-pay/Individual-income-tax-rates/)