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FAQ

What is Medical Expenses Offset

Medical Expenses Offset

Description Maximum Offset $
Medical Expenses 20% of excess over $2,060
Finance problem
finance problem
Concessional contribution rate
Concessional contribution rate
Tax rate table for individual

TAX RATES 2013 – 2014

Taxable income Tax on this income
$1 – $18,200 Nil
$18,201 – $37,000 Nil plus 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
$180,000 and over $54,547 plus 45c for each $1 over $180,000

The above rates do not include the Medicare levy of 1.5%

TAX RATES 2012 – 2013

Taxable income Tax on this income
$1 – $18,200 Nil
$18,201 – $37,000 Nil plus 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
$180,000 and over $54,547 plus 45c for each $1 over $180,000

The above rates do not include the Medicare levy of 1.5%

TAX RATES 2011 – 2012

Taxable income Tax on this income
$1 - $6,000 Nil
$6,001 - $37,000 15c for each $1 over $6,000
$37,001 – $80,000 $4,650 plus 30c for each $1 over $37,000
$80,001 – $180,000 $17,550 plus 37c for each $1 over $80,000
$180,000 and over $54,550 plus 45c for each $1 over $180,000

The above rates do not include the Medicare levy of 1.5%

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