Tax Facts 2024-25

A centralised resource to access key personal and corporate tax rates, superannuation thresholds, state duties and charges, and lodgement and payment dates.

Individual tax rates (federal)

Income tax rates

Resident individual rates

Taxable income	Tax payable
$0 – $18,200	Nil
$18,201 – $45,000	16% of excess over $18,200
$45,001 – $135,000	$4,288 + 30% of excess over $45,000
$135,001 – $190,000	$31,228 + 37% of excess over $135,000
$190,001+	$51,638 + 45% of excess over $190,000

Non-resident individual rates

Taxable income	Tax payable
$0 – $135,000	30%
$135,001 – $190,000	$40,500 + 37% of excess over $135,000
$190,001+	$60,850 + 45% of excess over $190,000

Resident minor rates

Other income	Tax payable
$0 – $416	Nil
$417 – $1,307	66% of excess over $416
$1,308+	45% of total amount of income that is not excepted income#

# Excepted income includes employment income.

Working holiday maker rates

Taxable income	Tax payable
$0 – $45,000	15%
$45,001 – $135,000	$6,750 + 30% of excess over $45,000
$135,001 – $190,000	$31,125 + 37% of excess over $135,000
$190,001+	$54,100 + 45% of excess over $190,000

Medicare levies and surcharges

Individual Medicare levy rates

Taxable income*	Levy payable
$0 – $26,000	Nil
$26,001 – $32,500	10% of excess over $26,000
$32,501	2.0% of entire amount

Rates may change if the taxpayer has a spouse on 30 June and family income is below $43,846 plus $4,027 for each dependant child or student.

* If the individual received a lump sum superannuation payment and is entitled to a tax offset in respect thereof, taxable income is reduced by so much of the taxable component of the payment as does not exceed the low rate cap.

Medicare levy surcharge thresholds

Singles	Families	Rate#
$0 – $97,000	$0 – $194,000	0.00%
$97,001 – $113,000	$194,001 – $226,000	1.00%
$113,001 – $151,000	$226,001 – $302,000	1.25%
$151,001+	$320,001+	1.50%

^#While the surcharge is calculated on taxable income, liability to the surcharge is based on income for surcharge purposes exceeding the thresholds.

Business and payroll related taxes and due dates (federal)

Company tax rates

Company	Rate
Base rate entity*	25%
All other companies	30%

* Applicable to companies with aggregated turnover less than $50m and passive income of no more than 80% of total assessable income.

Note: the franking rate is based on the lower company tax rate if the threshold requirements are satisfied by reference to income details for the immediately preceding income year.

Fringe benefits tax

FBT motor vehicle statutory fraction

Total km travelled	1	2
0 – 14,999	0.26	0.20
15,000 – 24,999	0.20	0.20
25,000 – 40,000	0.11	0.20
40,001+	0.07	0.20

Note: 1, contracts existing before 7:30pm on 10 May 2011. 2, contracts entered into after 7:30pm on 10 May 2011.

Fringe benefits tax

Rate	47.0%
Fringe benefits gross-up factor – Type 1	2.0802
Fringe benefits gross-up factor – Type 2	1.8868

	2023-24 FBT Year	2024-25 FBT Year
Car parking threshold	$10.40	$10.77
Benchmark interest rate (loan benefits and cars using operating costs method)	7.77%	8.77%

Quarterly lodgement and payment due dates

IAS, BAS, PAYG instalments

Quarter ended	30/06/2024	30/09/2024	31/12/2024	31/03/2025
Due date*	28/07/2024	28/10/2024	28/02/2025	28/04/2025

* An extension may be available in certain circumstances.

Private company loans (Division 7A)

Complying loans

Income year	Benchmark interest rate
2024-25	8.77%
2023-24	8.27%
2022-23	4.77%

Interest only investment agreements

Income Year	7-year %	10-year %
2024-25	8.77	10.79
2023-24	8.27	10.26
2022-23	4.77	6.79

Lump sum and employment termination payments

Annual leave

Unused annual leave	Tax
On resignation or retirement:
Leave accrued before 18 August 1993	100% included in assessable income and taxed at a maximum rate of 32%
Leave accrued after 17 August 1993	100% included in assessable income and taxed at marginal rates
On genuine redundancy, approved early retirement, invalidity:
All annual leave	100% included in assessable income and taxed at a maximum rate of 32%

Long service leave

Unused long service leave	Tax
On resignation or retirement:
Leave accrued before 16 August 1978	5% included in assessable income and taxed at marginal rates
Leave accrued 16 August 1978 – 17 August 1993	100% included in assessable income and taxed at a maximum rate of 32%
Leave accrued after 17 August 1993	100% included in assessable income and taxed at marginal rates
On genuine redundancy, approved early retirement, invalidity:
Leave accrued before 16 August 1978	5% included in assessable income and taxed at marginal rates
Leave accrued after 15 August 1978	100% included in assessable income and taxed at a maximum rate of 32%

Genuine redundancy/approved early retirement

2023-24 income year

Tax free amount	$11,985 + ($5,994 × completed years of service)
Remainder	Taxed as employment termination payment up to ETP cap of $235,000

2024-25 income year

Tax free amount	$12,524 + ($6,264 × completed years of service)
Remainder	Taxed as employment termination payment up to ETP cap of $245,000

Employment termination payments – Life benefit termination payment

Component / Age at end of income year	Amount subject to withholding	Rate of withholding
Tax free component
All ages	Nil	Nil
Taxable component
Under preservation age	Up to lesser cap amount*	32%
Preservation age and over	Up to lesser cap amount*	17%
All ages	Excess	47%

* The amounts are the ‘whole-of-income’ cap ($180,000 less the recipient’s taxable income) and the ETP cap ($245,000 for 2024-25 less life benefit termination payments received in the same or an earlier year in respect of the same termination event). Only the ETP cap applies to genuine redundancy and invalidity payments.
The ETP cap is $245,000 for 2024-25 ($235,000 for 2023-24) less life benefit termination payments received in the same or an earlier year in respect of the same termination event.

Superannuation rates and caps

Superannuation contributions

Concessional contributions limit

Age	Limit
Up to age 75	$30,000*^

* Unused concessional contributions for 2019/20 and later years may be carried forward for up to five years in limited circumstances meaning your concessional contributions limit may be higher than the standard limit above.

^ If you made the contribution during the period starting on the day you turn 67 and ending on the day that is 28 days after the end of the month in which you turn 75, you must satisfy the work test or the work test exemption. To satisfy the work test you must have been gainfully employed for at least 40 hours in any period of 30 consecutive days during the income year (work test).

To satisfy the work test exemption you must satisfy all of the following conditions:

you met the work test in the previous financial year;
you have not been, and do not intend to be, gainfully employed for at least 40 hours within 30 consecutive days in the current year;
your total super balance with all super providers was below $300,000 at 30 June 2024, and
you have not previously claimed a personal tax deduction under the work test exemption in any previous year.

Non-concessional contributions limit

Age at any time in the financial year	Limit
Under age 75	$120,000^
75 years and over	Nil

^ Individuals under 75 years at any time in the financial year may bring forward contributions of up to three times the standard non-concessional contribution limit across a fixed three-year period, subject to the table below.

Total superannuation balance on 30 June 2024	Maximum non-concessional contributions limit
$0 – $1,659,999	$360,000
$1,660,000 – $1,779,999	$240,000
$1,780,000 – $1,899,999	$120,000
$1,900,000+	Nil

Contribution standards

Age of member at time of contribution	Acceptance conditions
Under age 75	No conditions
Age 75 or over	Contributions cannot be accepted unless mandated

Superannuation guarantee

Year	Rate	Maximum contribution base
2024-25	11.5%	$65,070 per quarter

Contributions tax and surcharge (Division 293 tax)

*Income and concessional contributions**	Contributions tax	Surcharge	Total
$0 – $250,000	15%	Nil	15%
$250,001+	15%	15%	30%

* Income = taxable income + reportable fringe benefits + total net investment loss less some super lump sum payments.
Note: If your income + concessional contributions > $250,000 the concessional contributions above $250,000 will be subject to surcharge.

Downsizer contribution

Age of member at time of contribution	Limit
Age 55 or over*	$300,000

Note: There are strict eligibility and compliance requirements when making downsizer contributions including a ten-year ownership period.

Superannuation contributions CGT cap

CGT cap amount — 2024-25

Amount*

$1,780,000

* CGT cap amount is a lifetime limit that is indexed.

Note: Amounts that may count towards the CGT cap include capital proceeds from the disposal of assets that qualify for the 15-year CGT exemption + capital gains that are disregarded under the CGT retirement exemption limit (of up to $500,000).

Superannuation income streams

Pension payment – taxed fund

Component / Age at date payment received	Amount subject to withholding	Pension tax offset
Tax free component
All ages	Nil	Nil
Taxable component
Below preservation age^	Entire amount at marginal rates	Nil
Preservation age but below age 60^	Entire amount at marginal rates	15%
Aged 60 and over	Nil	Nil

^ If no TFN 47% must be withheld from taxable component.

Minimum annual payment amount

Age of beneficiary on 1 July (or start of pension if first year)	2023-24 income year
Under age 65*	4%
65 – 74	5%
75 – 79	6%
80 – 84	7%
85 – 89	9%
90 – 94	11%
Age 95 and over	14%

* If the pension is operating under transition to retirement rules, a maximum payment amount of 10% applies.

Superannuation pension cap (general transfer balance cap)

Cap	$1,900,000

Preservation age

Date of birth	Preservation age
Before 1 July 1960	55 years
1 July 1960 – 30 June 1961	56 years
1 July 1961 – 30 June 1962	57 years
1 July 1962 – 30 June 1963	58 years
1 July 1963 – 30 June 1964	59 years
On or after 1 July 1964	60 years

Superannuation fund payments

Lump sum payments – taxed fund

Component / Age at date payment received	Amount subject to withholding	Rate of withholding
Tax free component
All ages	Nil	Nil
Taxable component
Under preservation age^	Entire amount	22%
Preservation age but below age 60^	Up to low rate cap amount*	Nil
Preservation age but below age 60^	Excess above low rate cap amount*	17%
Aged 60 and over	Nil	Nil

* Low rate cap amount of $235,000 is a lifetime limit that is indexed.
^ If no TFN, 47% must be withheld from taxable component.

Accessing superannuation

Age of member	Condition of release*
Preservation age but less than age 60	Member has ceased all forms of gainful employment and never intends to be gainfully employed again
Age 60 but less than age 65	Member has ceased a position of gainful employment after attaining age 60
Age 65 or over	None

* Trust deed requirements must be met. Transition to retirement rules may provide restricted access after attaining preservation age.

State-based taxes, rates and duties

Victoria

Duty on transfer of real property – standard rates

Dutiable value	Duty payable*
$0 – $25,000	1.4% of entire amount
$25,001 – $130,000	$350 + 2.4% of excess over $25,000
$130,001 – $960,000	$2,870 + 6% of excess over $130,000
$960,001 – $2,000,000	5.5% of dutiable value of the property
$2,000,001+	$110,000 plus 6.5% of the dutiable value that exceeds $2,000,000

* A surcharge of 8% applies to foreign purchasers of residential property.

Duty on transfer of real property – concessional rates for principal place of residence contracts

Dutiable value**	Duty payable*
$130,001 – $440,000	$2,870 + 5% of excess over $130,000
$440,001 – $550,000	$18,370 + 6% of excess over $440,000

* A surcharge of 8% applies to foreign purchasers of residential property.
** General rates apply where dutiable value is no more than $130,000 or more than $550,000.

Land tax – general rates

Taxable value of land holdings	Land tax payable^#
< $50,000	Nil
$50,000 to < $100,000	$500
$100,000 to < $300,000	$975
$300,000 to < $600,000	$1,350 plus 0.3% of amount > $300,000
$600,000 to < $1,000,000	$2,250 + 0.6% of amount > $600,000
$1,000,000 to < $1,800,000	$4,650 + 0.9% of amount > $1,000,000
$1,800,000 to < $3,000,000	$11,850 + 1.65% of amount > $1,800,000
$3,000,000 and over	$31,650 + 2.65% of amount > $3,000,000

# A surcharge of 4% applies to absentee owners

Surcharge rates for Trusts

Taxable value of land holdings	Land tax payable#
< $25,000	Nil
$25,000 to < $50,000	$82 + 0.375% of amount > $25,000
$50,000 to < $100,000	$676 + 0.375% of amount > $50,000
$100,000 to < $250,000	$1,338 + 0.375% of amount > $100,000
$250,000 to < $600,000	$1,901 + 0.675% of amount > $250,000
$600,000 to < $1,000,000	$4,263 + 0.975% of amount > $600,000
$1,000,000 to < $1,800,000	$8,163 + 1.275% of amount > $1,000,000
$1,800,000 to < $3,000,000	$18,363 + 1.1072% of amount > $1,800,000
$3,000,000 +	$31,650 + 2.65% of amount > $3,000,000

# A surcharge of 4% applies to absentee owners.

Land tax rates for the 2024 land tax year

Land tax – general rates

Taxable value of land holdings	Land tax payable#
$0 – $49,999	Nil
$50,000 – $99,999	$500
$100,000 – $299,999	$975
$300,000 – $599,999	$1,350 + 0.3% of excess over $300,000
$600,000 – $999,999	$2,250 + 0.6% of excess over $600,000
$1,000,000 – $1,799,999	$4,650 + 0.9% of excess over $1,000,000
$1,800,000 – $2,999,999	$11,850 + 1.65% of excess over $1,800,000
$3,000,000 +	$31,650 + 2.65% of excess over $3,000,000

Surcharge rates for Trusts for the 2024 land tax year

Taxable value of land holdings	Land tax payable#
$0 – $24,999	Nil
$25,000 – $49,999	$82 + 0.375% of excess over $25,000
$50,000 – $99,999	$676 + 0.375% of excess over $50,000
$100,000 – $249,999	$1,338 + 0.375% of excess over $100,000
$250,000 – $599,999	$1,901 + 0.675% of excess over $250,000
$600,000 – $999,999	$4,263 + 0.975% of excess over $600,00
$1,000,000 – $1,799,999	$8,163 + 1.275% of excess over $1,000,000
$1,800,000 – $2,999,999	$18,363 + 1.1072% of excess over $1,800,000
$3,000,000+	$31,650 + 2.65% of excess over $3,000,000

# A surcharge of 4% applies to absentee owners.

Payroll tax: From 1 July 2024 – 30 June 2025

Monthly gross wages	Annual gross wages	Rate
Up to $75,000	Up to $900,000	Nil
Excess above $75,000*	Excess above $900,000*	4.85%

* Employers and groups with total annual taxable Australian wages between $3,000,000 and $5,000,000 are eligible for a reduced deduction, where the deduction is subject to a phase-out rate of 45%. A discounted rate of 1.2125% applies to qualifying regional employers.
The following surcharges are applicable for employers with annual Australian taxable wages above $10 million:
• Mental Health & Wellbeing Levy – 0.5% is payable on Victorian taxable wages above $10 million and additional 0.5% is payable on Victorian taxable wages above $100 million.
• COVID-19 Debt Recovery Levy – 0.5% is payable on Victorian taxable wages above $10 million and additional 0.5% is payable on Victorian taxable wages above $100 million

New South Wales

Duty on transfer of real property – standard transfer duty — from 1 July 2024

Property value	Transfer duty rate
$0 – $17,000	$1.25 for every $100 (minimum $20)
$17,000 – $36,000	$212 + $1.50 for every $100 over $17,000
$36,000 – $97,000	$497 + $1.75 for every $100 over $36,000
$97,0010- $364,000	$1,564 + $3.50 for every $100 over 97,000
$364,000 – $1,212,000	$10,909 + $4.50 for every $100 over $364,000
$1,212,000+	$49,069 + $5.50 for every $100 over $1,212,000

Duty on transfer of real property – premium transfer duty (residential properties only) — From July 1 2024

Property value	Premium rate
Over $3,636,000	$182,389 + $7.00 for every $100 over $3,636,000

# Surcharge duty for foreign purchasers increases to 9% from 1 January 2025, which must be paid in addition to any Standard Transfer Duty and Premium Transfer Duty

Duty on transfer of real property – surcharge purchaser duty

Foreign persons* must pay an additional purchaser surcharge of 8% on the purchase of any residential land bought^.

* Foreign persons also include foreign corporations and trusts.
^ Purchaser duty may also be levied on other types of transactions such as declaring a trust or transferring a lease.

Land tax

Threshold	Rate of duty
General threshold – $1,075,000	$100 + 1.6% of land value above the threshold, up to the premium threshold
Premium threshold – $6,571,000	$88,036 + 2% of land value above the threshold

Land tax – surcharge land tax

If you are a foreign person who owns residential land in NSW, you must pay a land tax surcharge in addition to any land tax you may already pay, currently at 4% and will increase to 5% from the 2025 land tax year (31 December 2024) onwards

Payroll tax

Annual threshold	Rate
$1,200,000	5.45%

Payroll tax – monthly thresholds

Days in the month	Threshold
28	$92,055
30	$98,630
31	$101,918

Queensland

Duty on transfer of real property – standard rates

Dutiable value	Duty payable
$0 – $5,000	Nil
$5,001 – $75,000	$1.50 for each $100 over $5,000
$75,001 – $540,000	$1,050 + $3.50 for each $100 over $75,000
$540,001 – $1,000,000	$17,325 + $4.50 for each $100 over $540,000
$1,000,001+	$38,025 + $5.75 for each $100 over $1,000,000

Duty on transfer of real property – concessional rates for principal place of residence contracts

Dutiable value**	Duty payable*
$0 – $350,000	$1.00 for each $100
$350,001 – $540,000	$3,500 + $3.50 for each $100 over $350,000
$540,001 – $1,000,000	$10,150 + $4.50 for each $100 over $540,000
$1,000,001+	$30,850 + $5.75 for each $100 over $1,000,000

* A surcharge of 8% applies to foreign purchasers of residential property.
** Further concessions apply to first home owners.

Land tax – general rates

Taxable value of land holdings	Land tax payable*
$0 – $599,999	Nil
$600,000 – $999,999	$500 + 1% of excess over $600,000
$1,000,000 – $2,999,999	$4,500 + 1.65% of excess over $1,000,000
$3,000,000 – $4,999,999	$37,500 + 1.25% of excess over $3,000,000
$5,000,000 – $9,999,999	$62,500 + 1.75% of excess over $5,000,000
$10,000,000+	$150,000 + 2.25% of excess over $10,000,000

* Higher rates apply to foreign landholders.

Rates for Trusts, Companies and Superannuation Funds

Taxable value of land holdings	Land tax payable**
$0 – $349,999	Nil
$350,000 – $2,249,999	$1,450 + 1.7% of the excess over $350,000
$2,250,000 – $4,999,999	$33,750 + 1.5% of excess over $2,250,000
$5,000,000 – $9,999,999	$75,000 + 2.25% of excess over $5,000,000
$10,000,000+	$187,500 + 2.75% of excess over $10,000,000

** A 3% surcharge applies to foreign landowners and absentee owners.

Payroll tax

Monthly gross wages	Annual gross wages	Rate
Up to $108,333	Up to $1,300,000	Nil
Excess above $108,333	Excess above $1,300,000 where annual taxable Australian wages less than $6,500,000	4.75%
Excess above $108,333	Excess above $1,300,000 where annual taxable Australian wages are more than $6,500,000	4.95%

The rate is reduced by 1% for qualifying regional employers.

An additional mental health levy of 0.25% applies to employers with annual Australian taxable wages of more than $10 million, or 0.75% for employers with annual Australian taxable wages of more than $100 million.

Western Australia

Duty on transfer of real property – general rates*

Dutiable value	Residential rate of duty*
$0 – $120,000	$1.90 for every $100 or part thereof
$120,001 – $150,000	$2,280 + $2.85 for every $100 or part thereof above $120,000
$150,001 – $360,000	$3,135 + $3.80 for every $100 or part thereof above $150,000
$360,001 – $725,000	$11,115 + $4.75 for every $100 or part thereof above $360,000
$725,001+	$28,453 + $5.15 for every $100 or part thereof above $725,000

* General rate applies to a dutiable transaction unless the Duties Act provides otherwise.
** A surcharge of 7% applies to foreign purchasers of residential property.

Duty on transfer of real property – concessional rates^{^}

Dutiable value	Concessional rate of duty
$0 – $120,000	$1.50 per $100 or part thereof
$120,001 – $200,000	$1,800 + $4.04 per $100 or part thereof above $120,000

^{^} Concessional rate applies to property that is either a principal place of residence or a WA business asset, and the value of the entire property doesn’t exceed $200,000.

Duty on transfer of real property – First home owner rates:

Dutiable value: home		First home owner rate of duty
*Before 9 May 2024	$0 – $430,000	No duty payable
	$430,001 – $530,000	$19.19 per $100 or part thereof above $430,000
	$530,001 +	You may be eligible for the general rate of duty
From 9 May 2024	$0 – $450,000	No duty payable
	$450,001 – $600,000	$15.01 per $100 or part thereof above $450,000
	$600,001+	You may be eligible for the general rate of duty

*These rates apply to agreements entered into before 9 May 2024 even if settlement occurs after this date.

Dutiable value: vacant land	Residential rate of duty
$0 – $300,000	No duty payable
$300,001 – $400,000	$13.01 per $100 or part thereof above $300,000
$400,001+	You may be eligible for the residential rate of duty

* Subject to application.

Land tax

Aggregated taxable value of land	Rate of land tax*
$0 – $300,000	Nil
$300,001 – $420,000	Flat rate of $300
$420,001 – $1,000,000	$300 + 0.25 cent for each $1 in excess of $420,000
$1,000,001 – $1,800,000	$1,750 + 0.90 cent for each $1 in excess of $1,000,000
$1,800,001 – $5,000,000	$8,950 + 1.80 cents for each $1 in excess of $1,800,000
$5,000,001 – $11,000,000	$66,550 + 2.00 cents for each $1 in excess of $5,000,000
$11,000,001+	$186,550 + 2.67 cents for each $1 in excess of $11,000,000

* Excludes Metropolitan region improvement tax rates.

Payroll tax

From 1 July 2023 – when monthly Australian taxable wages are more than $83,333.

Annual Australian taxable wages	Rate	Calculation of tax payable
More than $1m but less than $7.5m	5.5%	WA taxable wages – deductable amount x tax rate
$7.5m or more	5.5%	WA taxable wages x tax rate

South Australia

Land tax – general rates

Total taxable site value	Amount of tax
$0 – $732,000	Nil
$732,001 – $1,176,000	$0.50 for every $100 or part of $100 above $732,000
$1,176,001 – $1,711,000	$2,220+ $1.00 for every $100 or part of $100 above $1,176,000
$1,711,01 – $2,738,000	$7,570 + $2.00 for every $100 or part of $100 above $1,176,000
$2,738,001 +	$28,110 + $2.40 for every $100 or part of $100 above $2,738,000

Land tax – trusts

Total taxable site value	Amount of tax
$0 – $25,000	Nil
$25,001 – $732,000	$125 + $0.50 for every $100 or part of $100 above $25,000
$732,001 – $1,176,000	$3,660 + $1.00 for every $100 or part of $100 above $732,000
$1,176,001 – $1,711,000	$8,100 + $1.50 for every $100 or part of $100 above $1,176,000
$1,711,001 – $2,738,000	$16,125 + $2.40 for every $100 or part of $100 above $1,711,000
$2,738,001+	$40,773 + $2.40 for every $100 or part of $100 above $2,738,000

Stamp Duty on transfer of land

Where value of the property conveyed	Amount of duty
$0 – $12,000	$1.00 for every $1.00 or part of $100
$12,001 – $30,000	$120 + $2.00 for every $100 or part of $100 over $12,000
$30,001 – $50,000	$480 + $3.00 for every $100 or part of $100 over $30,000
$50,001 – $100,000	$1,080 + $3.50 for every $100 or part of $100 over $50,000
$100,001 – $200,000	$2,830 + $4.00 for every $100 or part of $100 over $100,000
$200,001 – $250,000	$6,830 + $4.25 for every $100 or part of $100 over $200,000
$250,001 – $300,000	$8,955 + $4.75 for every $100 or part of $100 over $250,000
$300,001 – $500,000	$11,330 + $5.00 for every $100 or part of $100 over $300,000
$500,001+	$21,330 + $5.50 for every $100 or part of $100 over $500,000

Foreign persons or foreign trusts that acquire an interest in residential land in South Australia are required to pay a surcharge of 7% in addition to the Duty otherwise payable.
A number of concessions may be available and other conveyances may be exempt (e.g. transfers from an estate of a deceased person to a beneficiary under a Will).

First home buyer relief:

Entered contract

Value of home

Amount of relief

Between 15 June 2023 and 5 June 2024

< $650,000 – Home value

< $400,000 – Vacant land

Reduce to zero

< $700,000 – Home value

< $450,000 – Vacant land

Partially reduce stamp duty

on or after 6 June 2024

Any value

Reduce to zero

Payroll tax

Total annual Australian taxable wages	Rate of payroll tax
Does not exceed $1,500,000	Nil
Exceeds $1,500,000 but not $1,700,000	Variable from 0% to 4.95%
Exceeds $1,700,000	4.95%

Tasmania

Duty on transfer of real property – standard rates

Dutiable value	Duty payable*
$0 – $3,000	$50
$3,001 – $25,000	$50 + $1.75 per $100, or part, by which the dutiable value exceeds $3,000
$25,001 – $75,000	$435 + $2.25 per $100, or part, by which the dutiable value exceeds $25,000
$75,001 – $200,000	$1,560 plus $3.50 for every $100, or part, by which the dutiable value exceeds $75,000
$200,001 – $375,000	$5,935 plus $4.00 for every $100, or part, by which the dutiable value exceeds $200,000
$375,001 – $725,000	$12,935 plus $4.25 for every $100, or part, by which the dutiable value exceeds $375,000
$725,001+	$27,810 plus $4.50 for every $100, or part, by which the dutiable value exceeds $725,000

* Foreign Investor Duty Surcharge:

8% surcharge for residential property
1.5% for primary production property

Duty on transfer of real property – concessional rates for principal place of residence contracts

Dutiable value	Duty payable*
$130,001 – $440,000	$2,870 + 5% of excess over $130,000
$440,001 – $550,000	$18,370 + 6% of excess over $440,000

* A surcharge of 8% applies to foreign purchasers of residential property.

Land tax – general rates

Taxable value of land holdings*	Land tax payable#
$0 – 124,999.99	Nil
$125,000 – $499,999.99	$50 + 0.45% of value over $125,000
$500,000 +	$1,737.50 + 1.5% of value over $500,000

* Where two or more properties are held by one owner, the assessed land value of the properties is aggregated. Land tax is then calculated on the total aggregated land value.

# The Foreign Investor Land Tax Surcharge (FILTS) is charged as additional land tax on the portion of general land owned by a foreign person on property which is acquired on or after 1 July 2022. Where liable, FILTS will apply at 2 per cent of the assessed land value of the portion of the property which is foreign owned.

Northern Territory

Duty on transfer of real property – standard rates

Dutiable value	Duty payable**
$0 – $525,000	(0.06571441 x V2) + 15V, where V = 0.1% of the property’s dutiable value
$525,000 – $3,000,000	4.95% of the dutiable value of the property
$3,000,000 – $5,000,000	5.75% of the dutiable value of the property
$5,000,000 +	5.95% of dutiable value of the property

** Exemption available for House and Land Package purchased before 20 June 2027.

Land tax – general rates

There is no land tax in the Northern Territory.

Australian Capital Territory

Duty on transfer of commercial property – standard rates

Dutiable value	Duty payable*
$0 – $1,900,000	Nil
$1,900,001+	$5.00 per $100

Duty on transfer of non-commercial property (not eligible owner occupier transaction)

Dutiable value	Duty payable
0 – $200,000	$1.20 per $100 or part thereof up to $200,000
$200,001 – $300,000	$2,400 plus $2.20 per $100 of the excess over $200,000
$300,001 – $500,000	$4,600 plus $3.40 per $100 of the excess over $300,000
$501,001 – $750,000	$11,400 plus $4.32 per $100 of the excess over $500,000
$750,001 – $1,000,000	$22,200 plus $5.90 per $100 of the excess over $750,000
$1,000,001 – $1,455,000	$36,950 plus $6.40 per $100 of the excess over $1,000,000
$1,455,001 +	A flat rate of $4.54 per $100 applied to the total transaction value

Duty on transfer of non-commercial property – concessional rates for owner occupied transactions

Dutiable value	Duty payable
0 – $260,000	$0.40 per $100 or part of thereof up to $260,000
$260,001 – $300,000	$1,040 plus $2.20 per $100 of the excess over $260,000
$300,001 – $500,000	$1,920 plus $3.40 per $100 of the excess over $300,000
$500,001 – $750,000	$8,720 plus $4.32 per $100 of the excess over $500,000
$750,001 – $1,000,000	$19,520 plus $5.90 per $100 of the excess over $750,000
$1,000,001 – $1,455,000	$34,270 plus $6.40 per $100 of the excess over $1,000,000
More than $1,455,000	A flat rate of $4.54 per $100 applied to the total transaction value

Land tax – general rates

Land tax is made up of two components: a fixed charge of $1,612 (From 1 July 2024) and a valuation charge calculated with reference to the average unimproved value of the land (AUV)

Taxable value of land holdings	Land tax payable#
$0 – $150,000	0.54% of the AUV
$150,001 – $275,000	$810+ 0.64% of the excess AUV over $150,000
$275,001 – $1,000,000	$1,610 + 1.24% of excess over $275,000
$1,000,001 – $2,000,000	$10,600 + 1.25% of excess over $1,000,000
$2,000,000 +	$23,100 + 1.26% of excess over $2,000,000

This figure is then divided into quarters. The amount for each quarter depends on the number of days in the quarter.

Quarter	Non-leap year (%)	Leap year (%)
July to September	25.2054	25.1366
October to December	25.2054	25.1366
January to March	24.6575	24.8633
April to June	24.9315	24.8633

A surcharge of 0.75% of the AUV is levied on foreign owners of land (other than principal place of residence).

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We provide no assurance to any party in respect of the accuracy or otherwise of the information contained in the Tax Facts. We accept no liability or responsibility for any errors, omissions or changes to the law and/or interpretation, or for any loss arising from the use of Tax Facts. Last update 11 July 2024.

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