|
| Tax Item |
Percentage /
Amount |
|
Email
or call your request |
|
Benchmark
Rate of Loan Interest (Fringe
Benefits Tax and loans) |
Current FBT Year
1 April 2006 to 31 March 2007 :
7.30 %
|
| 1
April 2005 to 31 March 2006
: 7.05 % |
|
From 1 April 2004 to 31 March 2005 :
7.05 % |
|
|
Capital Gains Tax Rate -
individuals
Note
Federal Budget May 2006 Changes to Small Business Concessions
|
Re Disposals
post 21/9/1999:
Tax at
marginal
personal rate % x
net realised gain
-either indexed cost 20 21 Sep 09
OR
50 % personal discount factor may apply if asset held more than 12 mths.
Other discounts, loss claims, deferrals & roll-overs may apply. |
|
| Car (employer owned
log book not kept) Fringe Benefit |
The more kms travelled, the smaller the Taxable amount. |
|
|
Car (employee
owned log not kept) Cents per KM |
The larger the engine capacity the higher the
Cents per KM deduction to max 5000 km p.a. |
|
| Company Tax Rates -
Private |
36 % 'til 30 June 2000
34 % for 2000/2001
30 % from 1 July 2001 |
|
|
Fringe
Benefits Tax Rate :
48.50 % 'of "grossed up" taxable amount. Fell to 46.5 %
from 1 April 2006 in May 2006 Budget
|
48.50 % 'of "grossed up" taxable amount.
Gross up factor is 2.1292 where GST input tax credits
claimed by employer, otherwise 1.9417 (pre GST rate)
|
|
|
Payroll Tax on Taxable
Wages NSW |
Tax Payable $ |
1.7.99 – 31.12.2000
|
$ Tax Payable
0 – 600,000 Nil
> 600,001 6.4% of excess over $600,000 |
|
1.1.2001 – 30.6.2002 |
0 – 600,000 Nil
> 600,001 6.2% of excess over $600,000 |
|
1.7.2002 onwards |
0 – 600,000 Nil
>
600,001 6.0% of excess over $600,000 |
|
|
Personal Income
Tax
Rates Adult Residents
Tax Year End
2006
Taxable Income $ |
2006 Tax Payable
$ |
Tax Year End 2007
Taxable Income $ |
Proposed
2007
Tax Payable $ |
|
0 – 6,000 |
Nil |
0 – 6,000 |
Nil |
|
6,001 – 21,600 |
15¢ for each $1 in excess of $6,000 |
6,001 – 25,000 |
15¢ for each $1 in excess of $6,000 |
|
21,601 –
63,000 |
$2,340
+ 30¢ for each $1 in excess of $21,600 |
25,000 –
75,000 |
$2,850
+ 30¢ for each $1 in excess of $25,000 |
| 63,001 –
95,000 |
$14,760 + 42¢ for each $1 in excess of
$63,000 |
75,000
–
150,000 |
$17,850 +
40¢ for each $1 in excess of $75,000 |
|
95,000+ |
$28,200 + 47¢ for each $1 in excess of $95,000 |
150,000+ |
$47,850 +
45¢ for each $1 in excess of $150,000 |
|
|
|
|
| Superannuation Guarantee Minimum |
% of "employee earning base wages"
: 8 % from 1 July 2000
9 % from 1 July 2002,
quarterly -AVOID SGC penalties ! |
Due date for payments to complying
Fund :
within 28 days of the end of each quarter- 28 Oct, 28 Jan, 28 April and 28
July |
|
|
|
Superannuation
Employer Contributions Maximum Deductions |
|
| Age by Year end |
Employer Deduction
Tax Year :2006
Warning
: Major System
Changes from Budget Night 9 May 2006 |
Employer Deduction
Tax Year
:2008-
Age Based limits replaced by Annual $ 50,000 cap- subject to phasing
in for over 50 year olds
Note
contrib. in excess of $ 50,000 taxed at top marginal rate ! |
|
Age under 35 |
14,603 |
50,000 |
|
Age 35 - 49 |
40,560 |
50,000 |
|
Age 50 and over |
100,587 |
See
Federal Budget May 2006 re phasing in and $ 150,000 after tax
injections |
|
|
Self employed |
Personal Deduction |
Personal Deduction |
|
Conditions apply including re super support |
up to $ 5000 plus 75 % of excess over $ 5000 |
100 % after 1
July 2007 -check
maximums |
