NOTE: The above Australian resident and foreign resident income tax rates include the Temporary Budget Repair Levy of 2% payable for taxable incomes over $180,000.

* In May 2016 Federal Budget, it was announced that effective 1 July 2016, the taxable income for which 37% tax rate commences will be changed from $80,0001 to $87,001 for residents and foreign residents. That is, bands 3 and 4 above for tax residents and bands 1 and 2 for foreign tax residents would be impacted. At this point in time, the legislation has not yet been enacted, albeit the ATO have indicated that their withholding tables will be updated effective 1 October 2016.