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Taxation Thresholds

During the working year, the employers pay their workers contributions, part of which go to the Australian Government. In some cases, however, it is possible to recoup some of it. Using a form called a Tax Return (which we generally translate as Dichiarazione dei Redditi’ even though, in reality it is a very different process from the Italian one, that is the ‘Form 730’), you can verify that the taxation paid corresponded to the taxation thresholds: if you have been taxed the correct amount, you will not have to recoup money nor give any to the state. If you have been taxed more, you can retrieve some, otherwise, if you have been taxed too little, you will have to pay the difference. But what are these taxation thresholds? It depends on the individual’s specific status in the country. Let’s look at the three categories:

TAX RESIDENT
(Citizens, Permanent Residents, Student Visa, Visas 485, 457, 482 etc):

0 – $18,200 -> Tax-free threshold
$18,201 – $45,000 -> 19%
$45,001 – $120,000 -> fixed amount of $3,572 + 32.5% of the amount earned over 45,000
$120,001 – $180,000 -> fixed amount of $20,797 + 37% of the amount earned over $120,000
Over $180,001 -> fixed amount of $54,097 + 45% of the amount earned over $180,000

[WORKING HOLIDAY VISA MAKER]
0 – $37,000 -> 15%
$37,001 – $90,000 -> fixed amount of $5,550 + 32.5% of the amount earned over 37,000
$90,001 – $180,000 -> fixed amount of $22,775 + 37% of the amount earned over $90,000
Over $180,001 -> fixed amount of $56,075 + 45% of the amount earned over $180,000

[FOREIGN RESIDENT]
$0 – $120,000 -> 32.5%
$120,001 – $180,000 -> fixed amount of $29,250 + 37% of the amount earned over $120,000
Over $180,001 -> fixed amount of $62,550 + 45% of the amount earned over $180,000

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