Income Tax Calculation For Australian Residents And Non-Residents
- December 21, 2023/ Uncategorized
| Calculation of Income Tax payable | |
| Particulars | Amount |
| Income Tax Payable | $ 15,000.00 |
| Tax on Taxable Income | |
| Upto $18200 | Nil |
| Total Tax Payable | Nil |
| Calculation of Income Tax payable | |
| Particulars | Amount |
| Income Tax Payable | $ 15,000.00 |
| Tax on Taxable Income | |
| Upto $80000 (32.5%) | $ 4,875.00 |
| Total Tax Payable | $ 4,875.00 |
| Particulars | Amount |
| Income Tax Payable | $ 15,000.00 |
| rate 30% | $ 4,500.00 |
| Total Tax Payable | $ 4,500.00 |
| Calculation of Income Tax payable | |
| Particulars | Amount |
| Income Tax Payable | $ 1,55,000.00 |
| Upto $80000 | $ 17,547.00 |
| above $80000 to $155000 | $ 27,435.00 |
| Total Tax Payable | $ 44,982.00 |
| Particulars | Amount |
| Income Tax Payable | $ 1,55,000.00 |
| Upto $80000 | $ 26,000.00 |
| above $80000 to $155000 | $ 27,435.00 |
| Total Tax Payable | $ 53,435.00 |
| Particulars | Amount |
| Income Tax Payable | $ 1,55,000.00 |
| rate 30% | $ 46,500.00 |
| Total Tax Payable | $ 46,500.00 |
| Particulars | Amount |
| Income Tax Payable | $ 2,55,000.00 |
| Upto $180000 | $ 54,547.00 |
| above $180000 | $ 33,435.00 |
| Total Tax Payable | $ 87,982.00 |
| Particulars | Amount |
| Income Tax Payable | $ 2,55,000.00 |
| Upto $180000 | $ 63,000.00 |
| above $180000 | $ 33,435.00 |
| Total Tax Payable | $ 96,435.00 |
| Particulars | Amount |
| Income Tax Payable | $ 2,55,000.00 |
| rate 30% | $ 76,500.00 |
| Total Tax Payable | $ 76,500.00 |
| Particulars | Amount |
| Income Tax Payable | $ 100.00 |
| rate 30% | $ 27.50 |
| Total Tax Payable | $ 27.50 |
| Particulars | Amount |
| Taxable Income | $ 18,000.00 |
| Medicare Levy | Nil |
| Medicare Levy Surcharge | Nil |
| Medicare Levy and Surcharge | Nil |
| Calculation of Medicare Levy and Medicare surcharge payable | |
| Particulars | Amount |
| Taxable Income | $ 32,000.00 |
| Medicare Levy | Nil |
| Medicare Levy Surcharge | Nil |
| Medicare Levy and Surcharge | Nil |
| Calculation of Medicare Levy and Medicare surcharge payable | |
| Particulars | Amount |
| Taxable Income | $ 45,000.00 |
| Medicare Levy | $ 900.00 |
| Medicare Levy Surcharge | Nil |
| Medicare Levy and Surcharge | $ 900.00 |
| Calculation of Medicare Levy and Medicare surcharge payable | |
| Particulars | Amount |
| Taxable Income | $ 45,000.00 |
| Medicare Levy | Nil |
| Medicare Levy Surcharge | Nil |
| Medicare Levy and Surcharge | Nil |
| Calculation of Medicare Levy and Medicare surcharge payable | |
| Particulars | Amount |
| Taxable Income | $ 1,10,000.00 |
| Medicare Levy | $ 2,200.00 |
| Medicare Levy Surcharge | Nil |
| Medicare Levy and Surcharge | $ 2,200.00 |
| Calculation of Medicare Levy and Medicare surcharge payable | |
| Particulars | Amount |
| Taxable Income | $ 1,10,000.00 |
| Medicare Levy | $ 2,200.00 |
| Medicare Levy Surcharge | $ 27.50 |
| Medicare Levy and Surcharge | $ 2,227.50 |
| Calculation of Medicare Levy and Medicare surcharge payable | |
| Particulars | Amount |
| Taxable Income | $ 1,50,000.00 |
| Medicare Levy | $ 3,000.00 |
| Medicare Levy Surcharge | $ 45.00 |
| Medicare Levy and Surcharge | $ 3,045.00 |
| Calculation of Medicare Levy and Medicare surcharge payable | |
| Particulars | Amount |
| Taxable Income | $ 1,10,000.00 |
| Medicare Levy | $ 2,200.00 |
| Medicare Levy Surcharge | $ 33.00 |
| Medicare Levy and Surcharge | $ 2,233.00 |
| Calcuation of Minimum thershold | |
| Particulars | Amount |
| Minimum thershold (A) | $ 9,00,000.00 |
| Thershold increase per child | $ 1,500.00 |
| Number of chil after the first child | $ 3.00 |
| Total increase in thershold (B) | $ 4,500.00 |
| Total Minimum Thershold (A+B) | $ 9,04,500.00 |
| Particulars | Amt ($) |
| Net Salary | 32000 |
| Add: Bank Interest Received | 150 |
| Add: PayG | 2600 |
| Total Income | 34750 |
| Less: Deductions | 450 |
| Taxable Income under 4-15 ITAA 1997 | 34300 |
| Taxable Payable under ITRA 1986 | 3059 |
| Add: Medicare levy | 686 |
| Less: PayG | 2600 |
| Tax payable | 1145 |
