Non-resident tax rates 2012/2013 

 

Taxable income	Tax on this income
$0 – $80,000	32.5c for each $1
$80,001 – $180,000	$26,000 plus 37c for each $1 over $80,000
Over $180,000	$63,000 plus 45c for each $1 over $180,000

 

Non-residents are not required to pay the Medicare levy.

Capital Gains Tax

 

From 7.30 pm on 8 May 2012, people who are Non-resident for tax purposes, will no longer qualify for the 50% CGT discount.  Non-residents can elect to get a market valuation of affected assets at 8 May 2012 to protect unrealised gains up to that date.

 

Non-resident tax rates 2012/2013 

 

Taxable income	Tax on this income
$0 – $80,000	32.5c for each $1
$80,001 – $180,000	$26,000 plus 37c for each $1 over $80,000
Over $180,000	$63,000 plus 45c for each $1 over $180,000

 

Non-residents are not required to pay the Medicare levy.

Capital Gains Tax

 

From 7.30 pm on 8 May 2012, people who are Non-resident for tax purposes, will no longer qualify for the 50% CGT discount.  Non-residents can elect to get a market valuation of affected assets at 8 May 2012 to protect unrealised gains up to that date.

 

Non-resident tax rates 2011/2012 and 2010/2011

 

Taxable income	Tax on this income
$0 – $37,000	29c for each $1
$37,001 – $80,000	$10,730 plus 30c for each $1 over $37,000
$80,001 – $180,000	$23,630 plus 37c for each $1 over $80,000
Over $180,000	$60,630 plus 45c for each $1 over $180,000

 

Non-residents are not required to pay the Medicare levy.

 

NB! Non-residents are not exempt from the Flood Levy in 2011/2012. 

 

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