2012/2013 AUSTRALIAN TAXATION CALCULATOR

Data Table showing Sensitivity of Tax

How do changes to the tax tiers affect you? Savings to Income
Tax in Tax in
Income 12/13 11/12 Savings
$12,671 $13,050 Sensitivity of Annual Tax Savings to Income
2012/2013 INCOME TAX TIERS $10,000 $0 $600 $600
### $2,000
$0 $18,200 0.0% Enter your taxable income $65,000 $15,000 $0 $1,350 $1,350
###
$1,800
$18,201 $37,000 19.0% $20,000 $342 $2,100 $1,758
###
$1,600
$37,001 $80,000 32.5% 2012/13 annual tax $12,671 or $1,056 per month $25,000 $1,292 $2,850 $1,558
###
$80,001 $180,000 37.0% average tax rate 19% $30,000 $2,242 $3,600 $1,358
### $1,400
$180,001 + 45.0% $35,000 $3,192 $4,350 $1,158
### $1,200
$40,000 $4,546 $5,550 $1,003
### $1,000
2011/2012 INCOME TAX TIERS $45,000 $6,171 $7,050 $878
###
$800
$0 $6,000 0.0% 2011/2012 annual tax $13,050 or $1,087 per month $50,000 $7,796 $8,550 $753
###
$6,001 $37,000 15.0% average tax rate 20% $55,000 $9,421 $10,050 $628
### $600
$37,001 $80,000 30.0% $60,000 $11,046 $11,550 $503
### $400
$80,001 $180,000 37.0% If you are earning the same amount, your tax will decrease by $65,000 $12,671 $13,050 $378
### $200
$180,001 + 45.0% around $378 per annum, $32 per month, or $7 per week. $70,000 $14,296 $14,550 $253
###
$0
Excludes Medicare & Flood Levy and Low Income Tax Offset $75,000 $15,921 $16,050 $128
###
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
$80,000 $17,546 $17,550 $3
### 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00
0 , 15 , 20 , 25 , 30 , 35 , 40 , 45 , 50 , 55 , 6 0 , 6 5 , 7 0 , 7 5 , 8 0 , 8 5 ,
email us if you would like the password to this model $85,000 $19,396 $19,399 $3
### $1 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $
The greatest tax savings will be felt by those earning around $20k per annum
www.plumsolutions.com.au Those earning over $80k will not experience much difference
Disclaimer: This model is written for the purpose of demonstrating the practical application of financial modelling.
Factors such as superannuation, tax deductions and other allowances have not been taken into consideration.
Please contact your accountant or financial adviser for an assessment of your individual situation.