Australia - Tax Guide for Freelance Contractors
Welcome to our guide to Australian Taxation. You will find a wealth of information which will be useful if you plan to work in, or place consultants in, Australia.
Our tax guides give a general overview of the actual taxation rates and rules at the time of writing. There are of course many ways to legally reduce tax or social security burdens in Australia. Please contact us for more information or an actual breakdown of your situation, and to find out more about our range of payroll and contact management services in Australia.
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Australian Income Tax
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All resident individuals must pay a Medicare levy of 1.5% of taxable income for health services. There is no other social security levy imposed in Australia. High earners (income exceeding AUD 50’000 for single persons, or AUD 100’000 for families with 0 or 1 dependent child, who are not covered by private health insurance must pay an additional surcharge of 1% on taxable income. There is no ceiling applied to the amount of income subject to this levy. The taxpayer can ask for an exemption if he gets sufficient cover from a qualifying, private and Australian health insurance company.
Most employees are covered by the superannuation legislation where the employer should contribute 9% of the employee’s earnings base to a superannuation fund.
Expatriates who wish to remain within their own home country social security scheme may do so for a limited period if Australia has a Totalisation Agreement with the home country.