Tax rates 2005-06 for resident individual taxpayers

Taxable income	Tax on this income
$0 - $6,000	Nil
$6,001 - $21,600	15c for each $1 over $6,000
$21,601 - $63,000	$2,340 plus 30c for each $1 over $21,600
$63,001 - $95,000	$14,760 plus 42c for each $1 over $63,000
Over $95,000	$28,200 plus 47c for each $1 over $95,000

These rates apply for the 2005-06 tax return. They cover individuals who:

• are residents of Australia for tax purposes for the whole financial year, and
• did not leave full-time education for the first time during the financial year.

Please note: these rates do not include the Medicare levy of 1.5%.

In addition, tax offsets reduce the tax payable. Tax offsets based on taxable income levels apply to:

• individuals on low incomes below $27,475
• individuals who receive certain Australian government allowances and payments, and
• senior Australians, through the senior Australians tax offset.

Other tax offsets apply to people with dependants, those living in remote areas and those who receive particular types of income or incur particular expenses.