Income Tax Rates Act 1986
Schedules
SCHEDULE 7 - GENERAL RATES OF TAXSubsection 12(1)
View history note
Hide history noteThe rates of tax on a taxpayer ' s working holiday taxable income for a year of income are as set out in the table that is applicable to the year of income.
| Tax rates for working holiday makers for the 2020-21, 2021-22, 2022-23 or 2023-24 year of income | ||
| Item | For the part of the taxpayer ' s working holiday taxable income that: | The rate is: |
| 1 | does not exceed $45,000 | 15% |
| 2 | exceeds $45,000 but does not exceed $120,000 | 32.5% |
| 3 | exceeds $120,000 but does not exceed $180,000 | 37% |
| 4 | exceeds $180,000 | 45% |
Note:
The above table will be repealed on 1 July 2024 by the Treasury Laws Amendment (A Tax Plan for the COVID-19 Economic Recovery) Act 2020 .
| Tax rates for working holiday makers for the 2024-25 year of income or a later year of income | ||
| Item | For the part of the taxpayer ' s working holiday taxable income that: | The rate is: |
| 1 | does not exceed $45,000 | 15% |
| 2 | exceeds $45,000 but does not exceed $135,000 | 30% |
| 3 | exceeds $135,000 but does not exceed $190,000 | 37% |
| 4 | exceeds $190,000 | 45% |
[ CCH Note: Part III cl 1 will be amended by No 92 of 2020, s 3 and Sch 1 item 15, by repealing table dealing with " tax rates for working holiday makers for the 2020-21, 2021-22, 2022-23 or 2023-24 year of income " (including the note), effective 1 July 2024. For application provision, see note under Pt I cl 1 .]
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