Australian Resident tax rates and super rates for 2023 & 2024
Australian residents tax rates 2023 to 2024
Australian resident tax rates for 2022–23 to 2023–24.
Australian residents tax rates 2023–24
| Resident tax rates 2023–24 | |
| Taxable income | Tax on this income |
| 0 – $18,200 | Nil |
| $18,201 – $45,000 | 19c for each $1 over $18,200 |
| $45,001 – $120,000 | $5,092 plus 32.5c for each $1 over $45,000 |
| $120,001 – $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 above rates do not include the Medicare levy of 2%.
Australian residents tax rates 2022–23
| Resident tax rates 2022–23 | |
| Taxable income | Tax on this income |
| 0 – $18,200 | Nil |
| $18,201 – $45,000 | 19c for each $1 over $18,200 |
| $45,001 – $120,000 | $5,092 plus 32.5c for each $1 over $45,000 |
| $120,001 – $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 above rates do not include the Medicare levy of 2%.
Credit – Tax rates – Australian resident | Australian Taxation Office (ato.gov.au)
Superannuation Guarantee
The super guarantee percentage rate payable by employers from 1 July 2023 is 11%.
This moves to 11.5% from 1 July 2024.
The SG rate from 1 July 2022 for the 2022-23 year is 10.5% of eligible wages or salary.
From 1 July 2026, employee super payments will be required to be paid at the same time as their salary and wages (rather than quarterly). See media release: Introducing payday super
Superannuation Guarantee Rates
| Until 30 June 2021 | 9.5% |
| From 1 July 2021 | 10% |
| From 1 July 2022 | 10.5% |
| From 1 July 2023 | 11% |
| From 1 July 2024 | 11.5% |
| From 1 July 2025 | 12% |
When SG Rates Apply
The applicable rate of super payable is the rate in force on the day of wages payment.
For example, wages paid in the period from 1 July 2021 to 30 June 2022 will accrue a superannuation guarantee payment at the rate of 10%, notwithstanding that the work may have been performed in June 2021 or earlier.
The superannuation guarantee is a form of compulsory superannuation for the benefit of employees, with contributions required to be made by employers as a percentage of (not deducted from) the ordinary time earnings of employees and certain contractors.
