Income Tax rates 2022-2023 in Australia

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Australian Income Tax 2022-2023.

The Australian Income Tax rates for 2022-2023 are shown below.  The Australian 2022-2023 Income Tax year runs from 1st July 2022 to 30 June 2023.

Proposed 2022-23 Tax Rates
These are the proposed Australian Income Tax rates for the 2022-23 tax year. They are subject to any changes brought in by the new government.

Taxable Income Tax On This Income
$0 to $18,200 Nil
$18,201 to $45,000 19c for each $1 over $18,200
$45,001 to $120,000 $5,092 plus 32.5c for each $1 over $45,000
$120,001 to $180,000 $29,467 plus 37c for each $1 over $120,000
$180,001 and over  $51,667 plus 45c for each $1 over $180,000

The actual resulting tax rate for some examples of annual incomes are:

Annual Income Tax Calculation Effective Tax rate
$18,000 $  0 0.00%
$20,000 $  342 1.71%
$25,000 $ 1,292 5.17%
$30,000 $ 2,242 7.47%
$35,000 $ 3,192 9.12%
$42,246 $4,569 10.81%
$45,000 $ 5,092 11.32%
$100,000 $22,967 22.97%
$120,000 $29,467 24.56%
$150,000 $40,567 27.04%
$180,000 $51,667 28.70%
$200,000 $59,067 29.53%

The Minimum wage for a Full time worker, from 1 July 2022, will be $42,246.88 per year. This is calculated from 52 weeks at $812.44 per week, being $21.38 per hour for a 38 hour week.

Using the above Australian Income Tax rates for 2022-2023, the Income Tax on that income would be $4,569 or 10.81% of the gross income.

Australian Tax Office - Income Tax Rates 2022-2023

Individual income tax rates:
Residents
Foreign residents
Working holiday makers



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