TAX RATES AND OTHER INFORMATION – Version 1 July 2013Company tax rate 30%, Superannuation Fund tax rate 15%Resident Individuals – 2013/14Taxable income Tax payable0- $18,200 Nil$18,201 - $37,000 19c for each $1 over $18,200$37,001 - $80,000 $3,572 plus 32.5c for each $1 over $37,000$80,001 – $180,000 $17,547 plus 37c for each $1 over $80,000> 180,001 and over $54,547 plus 45c for each $1 over $180,000

Unearned income of resident minors < 18 not in full-time employment – 2013/14Unearned income Tax payable0 – $416 Nil$417 – $1307 66% over $416Over $1307 45% flat on all unearned income

Medicare levy – General rate1.5 per cent is the Medicare levy rate. The Medicare Levy low-income threshold $20,542 for singles, $32,743 for couples plus $3,007 for each dependant child.

Medicare Levy Surcharge & Private Health Care Rebate– 2012/13http://www.health.gov.au/internet/main/publishing.nsf/Content/phi-rebate&medicarelevy-surcharge

Base Tier Tier 1 Tier 2 Tier 3Singles $88,000 $88,001-102,000 $102,001-136,000 $136,001Families $176,000 $176,001-204,000 $204,001-272,000 $272,001Aged under 65 30% 20% 10% 0%Aged 65-69 35% 25% 15% 0%Aged 70 or over 40% 30% 20% 0%Medicare levy surcharge 0% 1.00% 1.25% 1.50%

(the thresholds are increased by $1500 for each child after the first)

Low Income Tax Offsets (LITO) – 2013/14Taxable Income< $37,000 offset of $445 allowed, reduces by $0.015 per dollar >$37,000

Fringe benefits tax – 2013/14 (http://www.ato.gov.au/Rates/FBT/?default=&page=1) FBT rate is 46.5 per cent & FBT gross-up rates are 1.8692 or 2.0647. FBT benchmark interest rate is 7.4% & Depreciation rate is 25% (purchased after 10/5/06)FBT motor vehicle statutory formula percentages (from 1 April 2013, NB. transitional rates apply)Distance travelled % of purchase price0-14,999 km 20%15,000-24,999 km 20%25,000-40,000 km 20%over 40,000 km 17%

Car Value x Statutory Rate x Days Available Private UseDays in FBT year

−Employee Contribution

(Operating Cost x [ 100%- Proportion Business Use ])−Employee Contribution

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Superannuation Contributions 2013/14Concessional Contributions Under 59 at 30/6/2013 $25000, 59 or over at 30/6/2013 $35000Non-Concessional Contributions$150000 p.a., people < 65 can bring forward two years, ie. $450,000 over three yearsLow Income Superannuation ContributionIf adjusted taxable income < $37000, 15% offset on SG contributions (max $500, min $10) Government Co-Contribution50% matching to maximum $500 co-contribution, threshold $33516 (2013/14) reduction rate 3.333c Superannuation Contributions Spouse Rebate18% on maximum base $3000, threshold assessable income $10800, reduction rate $1.00 (2013/14)Contributions Splitting (Employer or SG contributions)If spouse < 55 or 55-65 and not permanently retired, 85% of contributions (to max 85% conc. cap)

Taxation of superannuation benefits (http://www.ato.gov.au/Individuals/Super/)Taxed Superannuation Money– Withdrawing a lump sumType of Superannuation Money Age Tax consequencesTax free Not Applicable Tax FreeTaxable Over 60

Under 60 & above preservation age

Tax FreeUp to low-rate threshold*,tax freeAbove threshold, taxed at 15% + ML**

* low-rate threshold 2013/14 $180000 ** Medicare Levy

Untaxed Superannuation Money– Withdrawing a lump sumType of Super Money Age Tax consequencesTax free Not Applicable Tax FreeTaxable Over 60

Under 60

Up to untaxed plan cap** taxed at 15% + ML Above untaxed plan cap** taxed at 45% + ML Up to low-rate threshold*, taxed at 15% + ML Above low-rate threshold* but below untaxed plan

cap** taxed at 30% + ML Above untaxed plan cap** taxed at 45% + ML

* low-rate threshold 2013/14 $180000 **Untaxed plan cap 2013/14 $1.315 million

Summary of Tax treatment for Superannuation Death BenefitsLump Sums Dependant Tax treatmentDeath Benefit Tax Dependant Nil

Non-Tax Dependant 15% + Medicare Levy*Income Stream– tax dependant only Age Tax treatmentDeath Pension If either the deceased or

dependant is age 60 or aboveNil

Both the deceased and dependant are under age 60

Marginal rates + Medicare Levy* with 15% offset

*except if received via estate

Retirement Income Stream Age Type of Money Tax treatment< 60 Taxed superannuation money 15% rebate≥ 60 Untaxed superannuation money 10% rebate< 60 Untaxed superannuation money 0% rebate≥55 < 60 Ordinary money 15% rebateMinimum payments required: Account based pensions (2013/14)Age at July 1 % of Balance as at 1 July55-64 yrs 4%65-74 5%75-79 6%80-84 7%85-89 9%90-94 11%95+ 14%

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Maximum Age Pension Rate per fortnight – effective 20 March 2013*Single $733.70 + $61.20 (supplement) + $13.50 (Clean Energy supplement)Couple (each) $524.10 + $46.10 (supplement) + $10.20 (Clean Energy supplement)*Whilst rate will be updated 20 Sept, we will use the above rate for the semester

Age Pension Eligibility (excludes transitional rules from September 2009 & rent assistance)Men – 65 years, Women as below:Effective from Pension age Applies to women born

Eligible now Before 1 July 19471 July 2011 64.5 years From 1 July 1947 to 31 December 19481 July 2013 65 years From 1 January 1949 to 30 June 1952N.B from 1 July 2017 increases to 65.5, then increases 0.5 years every 2 years until age 67

Age Pension Assets test thresholds and upper limits*Value Home-owner Non-home-ownerThreshold for full benefit Single $196 750 $339 250

Couple $279 000 $412 500

Upper limit for part benefit Single $735 750 $878 250Couple $1 092 000 $1 234 500

*Low threshold changes July 1 (for full pension eligibility) and upper threshold also change in March and September each year (for part pension eligibility). The above rates are applicable as at July 1 and will be used through the semester. Pension reduction $1.50 per fortnight for every $1,000 above threshold (single & couple)

Income test thresholds and upper limits*For Full Pension(per fortnight)

For Part Pension (per fortnight)

Single Up to $156 < $1,772.80Couple (combined) Up to $276 < $2,713.60* Low threshold changes July 1 (for full pension eligibility) and upper threshold also change in March and September each year (for part pension eligibility). The above rates are applicable as at July 1 and will be used through the semester. Pension reduction rate 50 cents each dollar (single), or 25 cents for each person of the couple

Deeming Rates on Financial Assets – Pensions thresholdsSingle pensioner first $45,400 deemed 2.5%, over threshold 4.0%Pensioner couple first $75,600 (combined) deemed 2.5%, over threshold 4.0%

Work Bonus (applies from 1 st July 2011): Flat $250 per fortnight. Accrued balance to max. $6500.

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Capital gains tax price indices for quarters ended

31 March 30 June 30 Sept 31 Dec1985 - - 71.3 72.71986 74.4 75.6 77.6 79.81987 81.4 82.6 84.0 85.51988 87.0 88.5 90.2 92.01989 92.9 95.2 97.4 99.21990 100.9 102.5 103.3 106.01991 105.8 106.0 106.6 107.61992 107.6 107.3 107.4 107.91993 108.9 109.3 109.8 110.01994 110.4 111.2 111.9 112.81995 114.7 116.2 117.6 118.51996 119.0 119.8 120.1 120.31997 120.5 120.2 119.7 120.01998 120.3 121.0 121.3 121.91999 121.8 122.3 123.4 124.12000 125.2 126.2

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