If you earn $120,001 to $180,000 you will pay a flat rate of $29,467 plus 37 cents for each $1 over $120,000. So, if you earn $150,000 you will pay around $42,997 in tax. If you earn $180,001 and over you will pay a flat rate of $51,667 plus 45 cents for each $1 over $180,000. If you earn $200,000 you'd be paying around $63,097 in annual taxes.. 32.5% (every $1 over $45,000) Tax-Free Threshold.. Since 1 July 2013 the full offset is $445, with a withdrawal rate of 1.5 cents per dollar of income over $37,000, such that it cuts out at $66,667. You will need to complete 'Withholding declaration (NAT 3093)' to withhold your tax offsets from your pay. Otherwise, Tax Offsets are paid back.

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Nil. $18,201 - $45,000. 19 cents for each $1 over $18,200. $45,001 - $120,000. $5,092 plus 32.5 cents for each $1 over $45,000. $120,001 - $180,000. $29,467 plus 37 cents for each $1 over.. $5,092 plus 32.5 cents for each $1 over $45,000: $120,001 - $180,000: $29,467 plus 37 cents for each $1 over $120,000: $180,001 and over: $51,667 plus 45 cents for each $1 over $180,000: IMPORTANT NOTE: the above ATO tax rates do not include the Medicare levy which increased from 1.5% to 2% from July 1, 2014.