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FINANCIAL PLANNING RATE AND TABLE 2011

Financial planning rate and table 2011

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Unformatted text preview: RATES AND TABLES INCOME TAX RATES1 (Australian residents, whole year) Taxable income Tax on this income (2011/12) $0 ‐ $6,000 Nil $6,001 ‐ $37,000 15 cents for each $1 over $6,000 $37,001 ‐ $80,000 $4,650 plus 30 cents for each $1 over $37,000 $80,001 ‐ $180,000 $17,550 plus 37 cents for each $1 over $80,000 $180,001 and over $54,550 plus 45 cents for each $1 over $180,000 1. Excludes Medicare levy of 1.5% of taxable income, and Flood Levy. EMPLOYMENT RELATED PAYMENTS Life Benefit Employment Termination Payments (Transitional Rules) Component Tax treatment2 Tax‐free Tax‐free component Taxable component • Under 55 - up to $1,000,000 – taxed at 30% - over $1,000,000 – taxed at to...
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