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Tax Rates For 2009/10 PDF Print E-mail
Written by Neena   
Saturday, 24 July 2010 12:55
 

The following rates for 2009-10 apply from 1 July 2009.

Residents

 
Taxable incomeTax on this income
$1 – $6,000Nil
$6,001 – $35,00015c for each $1 over $6,000
$35,001 – $80,000$4,350 plus 30c for each $1 over $35,000
$80,001 – $180,000$17,850 plus 38c for each $1 over $80,000
$180,001 and over$55,850 plus 45c for each $1 over $180,000
 

Non-Residents

 
Taxable incomeTax on this income
$0 – $35,00029c for each $1
$35,001 – $80,000$10,150 plus 30c for each $1 over $35,000
$80,001 – $180,000$23,650 plus 38c for each $1 over $80,000
$180,001 and over$61,650 plus 45c for each $1 over $180,000
 

Repaying HECS

From 1 July 2009, repayment income will be calculated using the following amounts from your income tax return:*       taxable income *       reportable fringe benefits (as reported on the payment summary) *       total net investment loss (which includes net rental losses) *       reportable super contributions, and *       any exempt foreign employment income amounts.

Repayment rates for the 2009–10 income year

Repayment income
2009–10		Repayment rate
(% of repayment income)
Below $43,151Nil
$43,151–$48,0664.0%
$48,067–$52,9804.5%
$52,981–$55,7645.0%
$55,765–$59,9435.5%
$59,944–$64,9196.0%
$64,920–$68,3366.5%
$68,337–$75,2037.0%
$75,204–$80,1367.5%
$80,137 and above8.0%

 

 

 

 

Financial Supplement debt 2009-10

 
Repayment income thresholds 2009–10Repayment rate (% of repayment income)
Below $43,151Nil
$43,151–$52,9802%
$52,981–$75,2033%
$75,204 and above4%

For HECS & SFSS no repayment

You will not have to make a compulsory repayment if you have a spouse or dependants and if, due to low family income, you either:*       are entitled to a reduction of the Medicare levy *       do not have to pay the Medicare levy.

Medicare Levy Threshold

Individual income thresholds
Tax PayerLower thresholdUpper threshold

 

If you are eligible for the senior Australians tax offset $29,867$35,137

 

If you are eligible for the pensioner tax offset$27,697*$32,584*

 

All other taxpayers- Single$18,488*$21,750*

 

The taxpayer’s Medicare levy is reduced if their family taxable income is equal to or less than the following limits.1. Family income - if the taxpayer is eligible for the Senior Australians tax offset
Basic family taxable income$51,176
Increment per dependent child$3,370
2. Family income - for all other taxpayers
Basic family taxable income$36,701
Increment per dependent child$3,370
 

 

Medicare Levy – 2009-10 income year
TaxpayerTaxable income $Medicare Levy Payable $
Senior Australian 20 – 29,867
29,868 – 35,137
35,138 +		Nil
10% of excess over 29,867
1.5% of entire amount
For the 2008/09 taxation year the Medicare Levy Surcharge (MLS) threshold for singles was $70,000 and for couples and families, the threshold was $140,000.For the 2009/10 taxation year the MLS threshold for singles is $73,000 and for couples and families, the threshold is $146,000.The Medicare Levy Surcharge (MLS) is levied on Australian taxpayers who do not have private hospital cover and who earn above a certain income. The surcharge aims to encourage individuals to take out private hospital cover, and where possible, to use the private system to reduce the demand on the public system. The surcharge is calculated at the rate of 1% of taxable income.Value of goods taken from stock for private use for the 2009-10 income yearSupply meals to clients in an in-house dining facilityIN accordance with section 32-70 of the ITAA 1997, the entity includes $30 for each meal in its assessable income 
TYPE OF BUSINESS AMOUNT (EXCLUDING GST) FOR ADULT/CHILD OVER 16 YEARS
$ 		AMOUNT (EXCLUDING GST) FOR CHILD 4-16 YEARS
$
Bakery 1,130 565
Butcher 760 380
Restaurant/cafe (licensed) 3,860 1,540
Restaurant/cafe (unlicensed) 3,080 1,540
Caterer 3,330 1,665
Delicatessen 3,080 1,540
Fruiter/greengrocer 810 405
Takeaway food shop 2,920 1,460
Mixed business (includes milk bar, general store and convenience store) 3,680 1,840

 

              Meal allowance

For the 2009-10 income year the reasonable amount for overtime meal allowance expenses is $24.95.

              Reasonable amount for 2009-10

 The reasonable amounts for daily travel allowance expenses, according to salary levels and destinations, for the 2009-10 income year are shown in Tables 1 to 6 as follows.
Table 1: Employee's annual salary - $93,600 or below
Place          Accommodation$ Food and drink
$
B'fast 22.30
Lunch 25.00
Dinner 43.00 		Incidentals
$ 		Total
$
Adelaide 157 90.30 16.50 263.80
Brisbane 201 90.30 16.50 307.80
Canberra 145 90.30 16.50 251.80
Darwin 159 90.30 16.50 265.80
Hobart 117 90.30 16.50 223.80
Melbourne 173 90.30 16.50 279.80
Perth 164 90.30 16.50 270.80
Sydney 183 90.30 16.50 289.80
High cost country centres See Table 4 90.30 16.50 Variable - see Table 4
Tier 2 country centres (see Table 5) 107 B'fast 19.95
Lunch 22.80
Dinner 39.30 		16.50 205.55
Other country centres 92 B'fast 19.95
Lunch 22.80
Dinner 39.30 		16.50 190.55
 
Table 2: Employee's annual salary - $93,601 - $166,500
Place Accomm.$Food and drink
$
B'fast 24.25
Lunch 34.35
Dinner 48.10 		Incidentals
$ 		Total
$
Adelaide 183 106.70 23.55 313.25
Brisbane 233 106.70 23.55 363.25
Canberra 183 106.70 23.55 313.25
Darwin 170 106.70 23.55 294.25
Hobart 150 106.70 23.55 280.25
Melbourne 197 106.70 23.55 327.25
Perth 211 106.70 23.55 341.25
Sydney 225 106.70 23.55 355.25
High cost country centres See Table 4 106.70 23.55 Variable - see Table 4
Tier 2 country centres (see Table 5) 128 B'fast 22.30
Lunch 22.80
Dinner 44.40 		23.55 241.05
Other country centres 110 B'fast 22.30
Lunch 22.80
Dinner 44.40 		23.55 223.05
 
Table 3: Employee's annual salary - $166,501 and above
Place Accomm .$ Food and drink
$
B'fast 26.00
Lunch 37.00
Dinner 63.00 		Incidentals
$ 		Total
$
Adelaide 209 126.00 23.55 358.55
Brisbane 236 126.00 23.55 380.55
Canberra 230 126.00 23.55 379.35
Darwin 265 126.00 23.55 414.15
Hobart 195 126.00 23.55 344.55
Melbourne 265 126.00 23.55 414.55
Perth 275 126.00 23.55 424.55
Sydney 265 126.00 23.55 414.55
Country centres $190, or the relevant amount in Table 4 if higher 126.00 23.55 Variable - see Table 4 if applicable
 
Table 4: High cost country centre’s - accommodation expenses
Country centre $ Country centre $
Ballarat (VIC) 118.50 Horsham (VIC) 113.00
Bendigo (VIC) 122.00 Jabiru (NT) 198.00
Bright (VIC) 110.50 Kalgoorlie (WA) 130.50
Broome (WA) 207.00 Karratha (WA) 285.00
Bunbury (WA) 120.00 Kununurra (WA) 157.50
Burnie (TAS) 125.00 Launceston (TAS) 115.50
Cairns (QLD) 123.00 Mackay (QLD) 132.50
Carnarvon (WA) 146.30 Maitland (NSW) 108.00
Christmas Island (WA) 122.50 Mount Isa (QLD) 158.50
Cocos (Keeling) Islands 110.00 Newcastle (NSW) 127.50
Dampier (WA) 174.40 Newman (WA) 170.00
Derby (WA) 181.50 Norfolk Island 119.50
Devonport (TAS) 128.50 Port Hedland (WA) 270.00
Emerald (QLD) 113.00 Port Macquarie (NSW) 115.00
Esperance (WA) 115.00 Thursday Island (QLD) 180.00
Exmouth (WA) 190.00 Townsville (QLD) 124.00
Geelong (VIC) 121.00 Wagga Wagga (NSW) 117.50
Geraldton (WA) 129.50 Warrnambool (VIC) 113.00
Gladstone (QLD) 118.50 Weipa (QLD) 138.00
Gold Coast (QLD) 135.00 Wilpena-Pound (SA) 135.00
Halls Creek (WA) 147.50 Wonthaggi (VIC) 122.00
Hervey Bay (QLD) 119.00 Yulara (NT) 331.00
Horn Island (QLD) 159.00    
 

Table 5: Tier 2 country centre’s

Country centre Country centre
Albany (WA) Mount Gambier (SA)
Alice Springs (NT) Naracoorte (SA)
Bairnsdale (VIC) Port Augusta (SA)
Bathurst (NSW) Port Lincoln (SA)
Bordertown (SA) Portland (VIC)
Broken Hill (NSW) Renmark (SA)
Castlemaine (VIC) Roma (QLD)
Ceduna (SA) Orange (NSW)
Dalby (QLD) Seymour (VIC)
Dubbo (NSW) Swan Hill (VIC)
Echuca (VIC) Whyalla (SA)
Kadina (SA) Wollongong (NSW)
Innisfail (QLD)  

        

 

 

              Table 1: Table of Countries

If a country is not listed in Table 1 use the reasonable amount in Table 2 for Cost Group 1
Country Cost Group Country Cost Group
Albania 2 Estonia 3
Algeria 4 Ethiopia 1
Angola 6 Fiji 2
Antigua and Barbuda 4 Finland 5
Argentina 2 France 6
Austria 5 Gabon 6
Azerbaijan 5 Gambia 3
Bahamas 6 Georgia 3
Bahrain 3 Germany 5
Bangladesh 2 Ghana 2
Barbados 5 Gibraltar 3
Belgium 4 Greece 4
Bermuda 5 Guatemala 2
Bolivia 1 Guyana 2
Bosnia 2 Hungary 3
Brazil 4 Iceland 5
Brunei 2 India 4
Bulgaria 3 Indonesia 3
Burkina Faso 3 Iran 1
Cambodia 2 Irish Republic 5
Cameroon 4 Israel 4
Canada 4 Italy 5
Chile 2 Jamaica 3
China (includes Macau & Hong Kong) 4 Japan 6
Colombia 3 Jordan 4
Congo Democratic Republic 3 Kazakhstan 3
Cook Islands 3 Kenya 3
Costa Rica 2 Korea Republic 4
Cote D'Ivoire 4 Kuwait 4
Croatia 3 Laos 2
Cuba 3 Latvia 3
Cyprus 4 Lebanon 3
Czech Republic 4 Libya 3
Denmark 6 Lithuania 3
Dominican Republic 3 Luxembourg 4
East Timor 2 Macedonia 2
Ecuador 2 Malawi 2
Egypt 3 Malaysia 2
El Salvador 2 Mali 3
Eritrea 2 Malta 4
Mauritius 2 Senegal 3
Mexico 2 Serbia 2
Monaco 6 Sierra Leone 4
Morocco 3 Singapore 4
Mozambique 2 Slovakia 4
Myanmar 4 Slovenia 3
Namibia 2 Solomon Islands 2
Nepal 2 South Africa 1
Netherlands 5 Spain 4
New Caledonia 5 Sri Lanka 2
New Zealand 3 Sudan 4
Nicaragua 2 Surinam 3
Nigeria 4 Sweden 4
Norway 6 Switzerland 5
Oman 4 Syria 3
Pakistan 2 Taiwan 3
Panama 3 Tanzania 2
Papua New Guinea 3 Thailand 3
Paraguay 1 Tonga 2
Peru 3 Trinidad and Tobago 4
Philippines 2 Tunisia 2
Poland 3 Turkey 4
Portugal 4 Uganda 2
Puerto Rico 4 Ukraine 3
Qatar 4 United Arab Emirates 5
Romania 3 United Kingdom 5
Russia 5 United States of America 4
Rwanda 3 Uruguay 2
Saint Lucia 3 Vanuatu 3
Saint Vincent 3 Venezuela 5
Samoa 3 Vietnam 2
Saudi Arabia 3 Zambia 2
Table 2: Reasonable amounts by cost groups
Cost Group Salary $93,600 and below Salary $93,601 to $166,500 Salary $166,501 and above
  Meals Incidentals Total Meals Incidentals Total Meals Incidentals Total
1 $65 $25 $90 $90 $25 $115 $115 $30 $145
2 $85 $30 $115 $120 $35 $155 $150 $40 $190
3 $120 $35 $155 $150 $40 $190 $180 $45 $225
4 $155 $35 $190 $185 $45 $230 $215 $50 $265
5 $185 $40 $225 $225 $50 $275 $265 $60 $325
6 $215 $45 $260 $270 $50 $320 $310 $60 $370
Note: These amounts are determined by the Commissioner solely as the amounts that will be accepted for the exception from the requirement to obtain written evidence for substantiation purposes Reasonable travel allowance expense claims for employee truck driversAmounts claimed up to the food and drink component only of the reasonable domestic daily travel allowance amounts for 'other country centre’s are considered to be reasonable for meal expenses of employee truck drivers who have received a travel allowance and who are required to sleep away from home . For the 2009-10 income year, the relevant amounts are:
Table 6: Employee truck drivers
Salary range Food and drink
$93,600 and below B'fast Lunch Dinner
  $19.95 $22.80 $39.30
  $82.05 per day
$93,601 and above B'fast Lunch Dinner
  $22.30 $22.80 $44.40
  $89.50 per day

                      

Motor Vehicle Depreciation Cost-Limit

Income YearDepreciation Cost Limit
$
200255,134
200357,009
200457,009
200557,009
200657,009
200757,009
200857,123
200957,180
201057,180

 

Per Kilo-meter Motor Vehicle Rates

These rates are used by individuals when making a claim for motor vehicle expenses up to a maximum of 5,000 business kilometers. They are also used by employers when reimbursing employees for business use of their vehicles.

The rates are based on the engine size of the car and are as follows:

Engine Capacity
(non-rotary engine)		Engine capacity
(rotary engine)		Rate per Kilo meter (cents)
2004/05 year2005/06 year2006/07 year2007/08 year2008/09 year2009/10 year
Up to 1,600ccUp to 800cc52.055.058.058.063.063.0
1,601 to 2,600cc801 to 1,300cc62.066.069.069.074.074.0
Over 2,600ccOver 1,300cc63.067.070.070.075.075.0

 

 

Deductible Superannuation Contribution Limits

For the 2009/10 year, the maximum concessional superannuation contributions that can be claimed by an employer or a substantially self employed person is as follows: The non-concessional contributions include personal contributions for which you do not claim an income tax deduction.
Type of contributionAnnual contribution cap 2008-09Annual contribution cap 2009-10 (Maximum)Excess contributions tax
Concessional – under age 50 years at 30 June$50,000$25,000* (indexed)31.5%
Concessional – age 50-74$100,000$50,000** (un-indexed)31.5%
Non-concessional$150,000$150,00046.5%

* Both employers and substantially self employed persons are entitled to claim a full tax deduction for the entire contributions made.

 

 

 

 

 

 

 Super Co-Contribution

From 1 July 2009, the Government will temporarily reduce the co-contribution from $1.50 to $1.00 for each $1 contribution made during each financial year until 30 June 2012. The table below gives an indication of the increase in super Co-Contribution from 2012 year onwards.
2008-092009-102010-112011-122012-132013-14
$1.50$1.00$1.00$1.00$1.25$1.25
The table below gives an indication of the Super Co-contribution available at different salary levels if you satisfy all the criteria to be eligible.
 If your personal super contribution is:
 $1,000$800$500$200
Your income is:Your Superannuation Co-contribution will be:
$31,920 or less$1,000$800$500$200
$33,920$933$800$500$200
$35,920$867$800$500$200
$37,920$800$800$500$200
$39,920$733$733$500$200
$41,920$667$667$500$200
$43,920$600$600$500$200
$45,920$533$533$500$200
$47,920$467$467$467$200
$49,920$400$400$400$200
$51,920$333$333$333$200
$53,920$267$267$267$200
$55,920$200$200$200$200
$57,920$133$133$133$133
$59,920$67$67$67$67
$61,920$0$0$0$0
 

 

Contributions that do not attract the co-contribution

The following super contributions do not attract the co-contribution:·         super guarantee contributions paid by your employer ·         salary sacrifice contributions – these are before-tax contributions made by your employer and are reportable employer super contributions ·         personal contributions for which you have claimed an income tax deduction ·         contributions made by your spouse or any other party on your behalf.

Receiving the super co-contribution

Co-contribution paymentsIf you are entitled to a super co-contribution, it will be paid to your fund after all of the following have occurred for a financial year:·         you have made eligible personal super contributions to your super fund or RSA before 30 June ·         you have lodged your income tax return ·         you did not claim an income tax deduction for all of your personal super contributions in your income tax return ·         your super fund has reported your personal contributions to us ·         we have received any additional information required.The super co-contribution is tax-free but the earnings on the super co-contribution will be taxed like any other earnings within the super fund. There are two income tests you must satisfy to be eligible for the co-contribution. The first is the income threshold test, and the second is the 10% eligible income test.  

o   Income threshold test

To receive the co-contribution, your total income (less business deductions in the 2007-08 and later financial years) must be lower than the higher income threshold in that financial year. For the income threshold purpose, your total income is the sum of the following:·         your assessable income ·         your reportable fringe benefits ·         your reportable employer super contributions (for the 2009-10 and later financial years).·         If you are carrying on a business, you may have a higher turnover but still be eligible for the co-contribution due to business income deductions.Total income (assessable income + reportable fringe benefits + reportable employer superannuation contributions) - business deductions

o   10% eligible income test

For the 2007-08 and later financial yearsTo satisfy the 10% eligible income test, 10% or more of your total income must be earned from employment-activities or the carrying on of a business (or a combination of both). For the purposes of this test, business deductions are not taken into account in either the business income or total income amounts.  

Example of different income’s included in total income are as follows:

 
Income sourceTotal incomeEligible income for the 10% test
Salary or wages, including employment income through a company or trustYesYes, where you are treated as an employee for the purposes of the Superannuation Guarantee (Administration) Act 1992
Director fees as a company directorYesYes, where you are treated as an employee for the purposes of the Superannuation Guarantee (Administration) Act 1992
Business income as a sole traderYes Yes
Other income from individually held assets (including interest, rent and dividends)YesNo
Business partnership distributionYesYes
Non-business partnership distributionYesNo
Distribution from a trust YesNo
 GST Thresholds
Item* Threshold
Requirement to issue a tax invoice$75
No requirement to withhold if supplier does not quote ABN$75
Turnover for compulsory registration for GST$75,000
(for any 12 months)
Turnover for compulsory registration for GST (non-profit entity)$150,000
(for any 12 months)
Annual turnover for compulsory use of non-cash accounting$2,000,000
Annual turnover for compulsory monthly electronic BAS lodgment$20,000,000