Tax Rates of Salaries Tax & Personal Assessment

Before going to the tax rates of salaries tax and personal assessment, you may want to know how to calculate the amount of tax you should pay. This article will also tell you the standard rate and annual income levels at which salaries tax payers enter the standard rate zone.

How to Calculate the Amount of Tax that You Should Pay?

Your net chargeable income, i.e. assessable income after deductions and allowances, is charged at progressive rates. But if what you need to pay on the basis of your net chargeable income exceeds the tax charged at standard rate on your net total income, i.e. assessable income after deductions but before allowances, then you have to pay the lower amount of tax.

Year of Assessment 2010/11 onwards#

  Net chargeable Income Rate Tax
  $   $
On the First 40,000 2% 800
On the Next 40,000 7% 2,800
  80,000   3,600
On the Next 40,000 12% 4,800
  120,000   8,400
Remainder   17%  

 #     Until superseded

Tax Reduction

Year of Assessment % of Tax Reduction Maximum Per Case ($) Applicable Tax Types
2010/11 75% 6,000 salaries tax and tax under personal assessment
2011/12 75% 12,000 salaries tax, profits tax and tax under personal assessment
2012/13 & 2013/14 75% 10,000 salaries tax, profits tax and tax under personal assessment
2014/15 75% 20,000 salaries tax, profits tax and tax under personal assessment
2015/16 75% 20,000 salaries tax, profits tax and tax under personal assessment

 

Standard Rate

Year of Assessment Tax Rate
2010/11 onward# 15%

 #     Until superseded

Tax Reduction

Year of Assessment % of Tax Reduction Maximum Per Case ($) Applicable Tax Types
2010/11 75% 6,000 salaries tax and tax under personal assessment
2011/12 75% 12,000 salaries tax, profits tax and tax under personal assessment
2012/13 & 2013/14 75% 10,000 salaries tax, profits tax and tax under personal assessment
2014/15 75% 20,000 salaries tax, profits tax and tax under personal assessment
2015/16 75% 20,000 salaries tax, profits tax and tax under personal assessment

 

Annual Income Levels at Which Salaries Tax Payers Enter the Standard Rate Zone

 

Year of Assessment

 

 2016/17
$

 

2015/16
$

 

2014/15
$

 

2013/14
$

 

2012/13
$

 

2011/12
$

 

 2010/11
$

Single 1,722,000 1,620,000 1,620,000 1,620,000  1,620,000 1,518,000 1,518,000
Married 2,844,000 2,640,000 2,640,000 2,640,000  2,640,000 2,436,000 2,436,000
Married + 1 child^ 3,694,000 3,490,000 3,235,000 3,235,000  3,175,500 2,946,000 2,861,000
Married + 2 children^ 4,544,000 4,340,000 3,830,000 3,830,000  3,711,000 3,456,000 3,286,000
Married + 3 children^ 5,394,000 5,190,000 4,425,000 4,425,000  4,246,500 3,966,000 3,711,000

Including Two Dependent Parents or Grandparents Aged 60 or Above

 

Year of Assessment

 

 2016/17
$

 

2015/16
$

 

2014/15
$

 

2013/14
$

 

2012/13
$

 

2011/12
$

 

 2010/11
$

Single 2,504,000 2,300,000 2,300,000 2,266,000 2,266,000 2,130,000 2,028,000
Married 3,626,000 3,320,000 3,320,000 3,286,000 3,286,000 3,048,000 2,946,000
Married + 1 child^ 4,476,000 4,170,000 3,915,000 3,881,000 3,821,500 3,558,000 3,371,000
Married + 2 children^ 5,326,000 5,020,000 4,510,000 4,476,000 4,357,000 4,068,000 3,796,000
Married + 3 children^ 6,176,000 5,870,000 5,105,000 5,071,000 4,892,500 4,578,000 4,221,000

Including Two Dependent Parents or Grandparents Both Aged 60 or Above and Living With You

 

Year of Assessment

 

 2016/17
$

 

2015/16
$

 

2014/15
$

 

2013/14
$

 

2012/13
$

 

2011/12
$

 

 2010/11
$

Single 3,286,000 2,980,000 2,980,000 2,912,000  2,912,000 2,742,000 2,538,000
Married 4,408,000 4,000,000 4,000,000 3,932,000  3,932,000 3,660,000 3,456,000
Married + 1 child^ 5,258,000 4,850,000 4,595,000 4,527,000  4,467,500 4,170,000 3,881,000
Married + 2 children^ 6,108,000 5,700,000 5,190,000 5,122,000  5,003,000 4,680,000 4,306,000
Married + 3 children^ 6,958,000 6,550,000 5,785,000 5,717,000  5,538,500 5,190,000 4,731,000

Including One Dependent Parent or Grandparent Aged 60 or Above and Living With You and One Disabled Dependent Brother or Sister

 

Year of Assessment

 

 2016/17
$

 

2015/16
$

 

2014/15
$

 

2013/14
$

 

2012/13
$

 

2011/12
$

 

 2010/11
$

Single 3,345,500 3,141,500 3,141,500 3,107,500 3,107,500 2,895,000 2,793,000
Married 4,467,500 4,161,500 4,161,500 4,127,500 4,127,500 3,813,000 3,711,000
Married + 1 child^ 5,317,500 5,011,500 4,756,500 4,722,500 4,663,000 4,323,000 4,136,000
Married + 2 children^ 6,167,500 5,861,500 5,351,500 5,317,500 5,198,500 4,833,000 4,561,000
Married + 3 children^ 7,017,500 6,711,500 5,946,500 5,912,500 5,734,000 5,343,000 4,986,000

Being a Single Parent with

 

Year of Assessment

 

 2016/17
$

 

2015/16
$

 

2014/15
$

 

2013/14
$

 

2012/13
$

 

2011/12
$

 

 2010/11
$

1 child^ 3,694,000 3,490,000 3,235,000 3,235,000  3,175,500 2,946,000 2,861,000
2 children^ 4,544,000 4,340,000 3,830,000 3,830,000  3,711,000 3,456,000 3,286,000
3 children^ 5,394,000 5,190,000 4,425,000 4,425,000  4,246,500 3,966,000 3,711,000

Note: The effects of the various deductions are not included in the above tables.

^ Not include new born child allowance

Last revision date: October 2016