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Personal income tax rates
The following income tax rates apply to taxable income.
| $0 - 6,000 |
0 |
Nil |
| $6,001 - 37,000 |
15 |
15 cents for each $1 over $6,000 |
| $37,001 - 80,000 |
30 |
$4,650 plus 30 cents for each $1 over $37,000 |
| $80,001 - 180,000 |
37 |
$17,550 plus 37 cents for each $1 over $80,000 |
| $180,001+ |
45 |
$54,550 plus 45 cents for each $1 over $180,000 |
Flood Levy: Applies generally to individual taxpayers, including non-residents. Exemption exists for those affected by a natural disaster in 2010-11 and received an Australian Government Disaster Recovery Payment.
| $0 - 50,000 |
0 |
Nil |
| $50,001-100,000 |
0.5 |
1 cent for each $2 over $50,000 |
| $100,001 + |
1.0 |
$250 plus 1 cent for each $1 over $100,000 |
Low income rebate: $1,500. Full entitlement where income is less than $30,000 and then reducing by 4 cents in every dollar, ceasing where income reaches $67,500. Effective tax-free threshold for low income earners is $16,000.
Medicare levy: 1.5%. Low income threshold: $18,839 for individuals and $31,789 for families.
Medicare levy surcharge: Additional 1% surcharge may apply to those without adequate hospital insurance. Thresholds $80,000 for individuals and $160,000 for families.
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 Saward Dawson home
Personal income tax
Non-resident income tax
Superannuation
Income tax lodgement dates
Medical expenses
Motor vehicle rates
FBT
Depreciation cost limit
ASIC lodgement
Victorian payroll tax
Victorian stamp duty
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GST Registration Thresholds
For profit: Enterprises are required to be registered for GST if turnover is $75,000 or more
Not-for-profit: Enterprises are required to be registered for GST if turnover is $150,000 or more
Activity Statements lodgement dates
Annual tax period for GST: Lodgement and payment is due on the same date as the tax return.
Quarterly tax period for GST, PAYG Withholding or PAYG Instalments
| June 2011 |
28 July 2011 |
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September 2011
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28 October 2011 |
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December 2011
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28 February 2012 |
| March 2012 |
28 April 2012 |
| June 2012 |
28 July 2012 |
Note: If we lodge these statements electronically a further four week extension may be available.
Monthly tax period for GST, PAYG Withholding or PAYG Instalments: Lodgement and payment is due 21 days after the end of the relevant month with no extension for electronic lodgement.
PAYG Payment Summary Dates
| Payers who prepare their own PAYG Payment Summaries |
14 July 2011 |
14 August 2011 |
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If we prepare the summaries
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14 July 2011 |
30 September 2011 |
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If we prepare the summaries and:
- All employees are related to the owner
- ATO is notified by 15 September 2011
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Due date for payer's income tax return |
2011 Company & trust income tax return lodgement dates
| Company with one or more outstanding tax returns on 30 June 2011 (Payment by 1 December 2010) |
31 October 2011 |
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Trust with one or more outstanding tax returns on 31 October 2011
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31 October 2011 |
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Large/medium company or trust (total income more than $10m) whose latest year return lodged as at 30 June 2010 was taxable (Payment by 1 December 2011)
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15 January 2012 |
| Large/medium company or trust (total income more than $10m) whose latest year return lodged as at 30 June 2011 was non-taxable |
1 March 2012 |
| Company or trust with total income in the 2010 year in excess of $2 million |
31 March 2012 |
| Companies and trusts not due earlier |
15 May 2012 |
Depreciation cost limit - 2011 threshold
| $57,466 |
Maximum amount a car can be depreciated. Where the purchaser, or a party to a leasing contract, is registered, this is GST exclusive. Used to determine (1) Maximum amount of GST claimable on a new car purchase, and (2) maximum tax deduction for leasing charges. |
Superannuation
Superannuation Guarantee to be paid by employers: Minimum 9%. Proposed gradual increase from 9% to 12% commencing 1 July 2013, subject to legislation.
Superannuation Guarantee payment due dates: 28 Oct 2011, 28 Jan 2012, 28 Apr 2012, 28 Jul 2012.
Superannuation Guarantee exclusions: Employees aged 70 or over, part-time employees under 18 years of age and employees receiving salary or wages of less than $450 per month.
Maximum Superannuation Contribution Base: $42,220 per quarter. Superannuation is not required to be paid on an employee’s salary or wages in excess of this quarterly limit.
FBT year ended 31 March 2011
FBT rate: 46.5% Benchmark interest rate: 7.8% Lodgement date: 28 May 2012
Type 1 Gross-up factor: 2.0647 Type 2 Gross-up factor: 1.8692
Payroll tax rate: 4.90% effective from 1 July 2011 Tax free amount: $550,000
Search for: Awards, pay rates, conditions and national employment standards.
Registration for WorkSafe is required if remuneration exceeds $7,500 per year.
ASIC lodgement - Change to director and company details
All companies: Within 28 days of the date of change.
Apply for or renew a business name.
Search the register to determine if a supplier is registered for GST.
Victorian land tax (for land held at 31 December 2011)
| Up to $249,999 |
Nil |
| $250,000 to $599,999 |
$275 plus 0.2% for amount over $250,000 |
| $600,000 to $999,999 |
$975 plus 0.5% for amount over $600,000 |
| $1,000,000 to $1,799,999 |
$2,975 plus 0.8% for amount over $1,000,000 |
| $1,800,000 to $2,999,999 |
$9,375 plus 1.3% for amount over $1,800,000 |
| $3,000,000+ |
$24,975 plus 2.25% for amount over $3,000,000 |
Note: Higher rates apply to land held by a trust
Victorian stamp duty on transfer of real estate
| $0-$25,000 |
1.4% of the value |
| $25,001-$130,000 |
$350 plus 2.4% of the value over $25,000 |
| $130,001-$960,000 |
$2,870 plus 6% value over $130,000 |
| $960,001+ |
5.5% of the value |
Victorian stamp duty on transfer of principal residence
| $0-$25,000 |
1.4% of the value |
| $25,001-$130,000 |
$350 plus 2.4% of the value over $25,000 |
| $130,001-$440,000 |
$2,870 plus 5% value over $130,000 |
| $440,001 to $550,000 |
$18,370 plus 6% value over $440,000 |
| $550,001 to $960,000 |
$28,070 plus 6% value over $550,000 |
| $960,001+ |
5.5% of the value |
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