Tax Rates
The following table shows the individual resident tax rates and the thresholds, do not include 2% Medicare levy.
Marginal Tax Rates 2024–2025(Resident)
| Taxable Income | Tax On Income |
| $0–$18,200 | Nil |
| $18,201–$45,000 | 16c for each $1 over $18,200 |
| $45,001–$135,000 | $ 4,288 plus 30c for each $1 over $45,000 |
| $135,001–$190,000 | $31,288 plus 37c for each $1 over $135,000 |
| $190,001> | $51,638 plus 45c for each $1 over $190,000 |
Employment Termination Payment Cap (ETP)
An Employment Termination Payment (ETP) is a lump sum payment rather than a wage payment made as a result of termination. The Employment Termination Cap Threshold increases to $245,000 (Life and Death).
Life benefit termination payments ETP cap
| Income year | Amount of cap |
| 2024–25 | $245,000 |
| 2023–24 | $235,000 |
| 2022–23 | $230,000 |
| 2021–22 | $225,000 |
| 2020–21 | $215,000 |
| 2019–20 | $210,000 |
| 2018–19 | $205,000 |
Termination Thresholds
Redundancy Tax Free Lump Sum D Threshold increases to $12,524+ $6,264 for each completed year of service.
Genuine redundancy and early retirement scheme payment limits.
| Income year | Base limit | For each complete year of service |
| 2024–25 | $12,524 | $6,264 |
| 2023–24 | $11,985 | $5,994 |
| 2022–23 | $11,591 | $5,797 |
| 2021–22 | $11,341 | $5,672 |
| 2020–21 | $10,989 | $5,496 |
| 2019–20 | $10,638 | $5,320 |
| 2018–19 | $10,399 | $5,200 |
Payroll tax
Payroll tax is owed on any wages of total taxable Australia-wide wages that exceeds a threshold amount.
| State | Threshold at April 2024 | Rate at April 2024 |
| ACT | $2,000,000 | 6.85% |
| NSW | $1,200,000 | 5.45% |
| NT* | $1,500,000 | 5.5% |
| QLD Metro* | $1,300,000 | 4.75%-4.95% |
| QLD Regional* | $1,300,000 | 3.75%-3.95% |
| SA | $600,000 Deduction <$1.5m ATW-exempt from PT | 0%-4.95% |
| TAS | $1,250,000 initial $2,000,000 subsequent | 4%-6.1% |
| VIC Metro | $700,000 | 4.85% |
| VIC Regional | $700,000 | 1.2125% |
| WA* | $1,000,000 | 5.5% |