As in any country, everyone has to pay tax.
The financial year runs from July 1st to June 30th of the following year and the three main categories of tax are:
- Personal earnings
- Business income
- Capital gains
Personal earnings are taxed on a progressive scale:
Tax rates 2009-10:
| Taxable income | Tax on this income |
| $1 – $6,000 | Nil |
| $6,001 – $35,000 | 15c for each $1 over $6,000 |
| $35,001 – $80,000 | $4,200 plus 30c for each $1 over $34,000 |
| $80,001 – $180,000 | $18,000 plus 40c for each $1 over $80,000 |
| $180,001 and over | $58,000 plus 45c for each $1 over $180,000 |
In order to complete your tax return you need a Tax File Number (TFN). This number is your identification number for the tax office. If you do not provide one, the maximum tax rate of 46% will be used.
