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Marginal tax rates

What are the marginal tax rates in 2023/24?

The following table summarises the tax rates that apply to residents in 2023/24.

Taxable income Tax payable (excludes Medicare levy)
$0 – $18,200 Nil
$18,201 – $45,000 19c for each 1c over $18,200
$45,001 – $120,000 $5,092 plus 32.5c for each $1 over $45,000
$120,001 – $180,000 $28,467 plus 37c for each $1 over $120,000
$180,001 + $51,667 plus 45c for each $1 over $180,000

Source: Australian Taxation Office (ATO, opens in new window).

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General advice and information only

Any advice and information on this website is general only, and has been prepared without taking into account your particular circumstances and needs. Before acting on any advice on this website you should assess or seek advice on whether it is appropriate for your needs, financial situation and investment objectives.

Tax disclaimer

Any general tax information on this website is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or an assessment of your liabilities, obligations or claim entitlements that arise, or could arise, under taxation law, and we recommend you consult with a registered tax agent.