2025–26 Tax Rates (Current Labor Government)
These rates reflect the Stage 3 tax cuts adjusted in early 2024:
$0 – $18,200: Nil
$18,201 – $45,000: 16¢ per $1 over $18,200
$45,001 – $135,000: $4,288 + 30¢ per $1 over $45,000
$135,001 – $190,000: $31,288 + 37¢ per $1 over $135,000
$190,001 and over: $51,638 + 45¢ per $1 over $190,000
Note: These rates exclude the 2% Medicare levy
️ 2021–22 Tax Rates (Last Full Year of Liberal Government)
$0 – $18,200: Nil
$18,201 – $45,000: 19¢ per $1 over $18,200
$45,001 – $120,000: $5,092 + 32.5¢ per $1 over $45,000
$120,001 – $180,000: $29,467 + 37¢ per $1 over $120,000
$180,001 and over: $51,667 + 45¢ per $1 over $180,000
Financial Year Government Type Surplus/Deficit (AUD) 2024–25 Labor (Albanese) ~$15.8 billion surplus 2023–24 Labor (Albanese) ~$22.1 billion surplus 2022–23 Labor (Albanese) ~$4.2 billion surplus 2021–22 Liberal (Morrison) ~$-32 billion deficit 2020–21 Liberal (Morrison) ~$-134.2 billion deficit 2019–20 Liberal (Morrison) ~$-85.3 billion deficit 2018–19 Liberal (Morrison) ~$-1.1 billion deficit 2017–18 Liberal (Turnbull) ~$-10.1 billion deficit 2016–17 Liberal (Turnbull) ~$-33.2 billion deficit 2015–16 Liberal (Turnbull) ~$-39.6 billion deficit 2014–15 Liberal (Abbott) ~$-37.9 billion deficit 2013–14 Liberal (Abbott) ~$-48.5 billion deficit
yeah, lower taxes and surplus after surplus. Damn commies.
