What is the income tax rate in Australia?

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The income tax rates in Australia as of December 2022 are as follows:

For residents

  • Taxable Income up to $18,200: 0%
  • Taxable Income between $18,201 and $45,000: 19%
  • Taxable Income between $45,001 and $120,000: 32.5%
  • Taxable Income between $120,001 and $180,000: 37%
  • Taxable Income over $180,000: 45%

For non-residents

  • Taxable Income up to $120,000 is taxed at a rate of 32.5%.
  • Taxable Income between 120,000 and $180,000 is taxed at a rate of  37%
  • Taxable Income over $180,000 is taxed at 45%

It’s important to note that these rates are subject to change, and you should refer to the Australian Taxation Office (ATO) website or consult a tax professional for the most up-to-date information and any potential changes in tax rates or thresholds.

 

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