Income tax in Australia

Tax rates 2004-05 Individual income tax rates

$0 – $6,000 Nil

$6,001 – $21,600 17c for each $1 over $6,000

$21,601 – $58,000 $2,652 plus 30c for each $1 over $21,600

$58,001 – $70,000 $13,572 plus 42c for each $1 over $58,000

Over $70,000 $18,612 plus 47c for each $1 over $70,000

From mid-2006, taxpayers earning $70,000 to $125,000 a year will face the 42c marginal rate (43.5c counting the Medicare levy). About 10 per cent of taxpayers will be in this bracket, compared with 3 per cent paying the top marginal rate.

For income tax in australia visit Oztaxline.