DrCr/austax/tax_tables.py

#   DrCr: Web-based double-entry bookkeeping framework
#   Copyright (C) 2022–2023  Lee Yingtong Li (RunasSudo)
#
#   This program is free software: you can redistribute it and/or modify
#   it under the terms of the GNU Affero General Public License as published by
#   the Free Software Foundation, either version 3 of the License, or
#   (at your option) any later version.
#
#   This program is distributed in the hope that it will be useful,
#   but WITHOUT ANY WARRANTY; without even the implied warranty of
#   MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE.  See the
#   GNU Affero General Public License for more details.
#
#   You should have received a copy of the GNU Affero General Public License
#   along with this program.  If not, see <https://www.gnu.org/licenses/>.

# Base income tax
# https://www.ato.gov.au/rates/individual-income-tax-rates/
# Maps each financial year to list of (upper limit (INclusive), flat amount, marginal rate)
base_tax = {
	2024: [
		(18200, 0, 0),
		(45000, 0, 0.19),
		(120000, 5092, 0.325),
		(180000, 29467, 0.37),
		(None, 51667, 0.45)
	],
	2023: [
		(18200, 0, 0),
		(45000, 0, 0.19),
		(120000, 5092, 0.325),
		(180000, 29467, 0.37),
		(None, 51667, 0.45)
	]
}

# Study and training loan (HELP, etc.) repayment thresholds and rates
# https://www.ato.gov.au/Rates/HELP,-TSL-and-SFSS-repayment-thresholds-and-rates/
# Maps each financial year to list of (upper limit (EXclusive), repayment rate)
repayment_rates = {
	2024: [
		(51550, 0),
		(59518, 0.01),
		(63089, 0.02),
		(66875, 0.025),
		(70888, 0.03),
		(75140, 0.035),
		(79649, 0.04),
		(84429, 0.045),
		(89494, 0.05),
		(94865, 0.055),
		(100557, 0.06),
		(106590, 0.065),
		(112985, 0.07),
		(119764, 0.075),
		(126950, 0.08),
		(134568, 0.085),
		(142642, 0.09),
		(151200, 0.095),
		(None, 0.1)
	],
	2023: [
		(48361, 0),
		(55837, 0.01),
		(59187, 0.02),
		(62739, 0.025),
		(66503, 0.03),
		(70493, 0.035),
		(74723, 0.04),
		(79207, 0.045),
		(83959, 0.05),
		(88997, 0.055),
		(94337, 0.06),
		(99997, 0.065),
		(105997, 0.07),
		(112356, 0.075),
		(119098, 0.08),
		(126244, 0.085),
		(133819, 0.09),
		(141848, 0.095),
		(None, 0.1)
	]
}

# Medicare levy thresholds
# https://www.ato.gov.au/Individuals/Medicare-and-private-health-insurance/Medicare-levy/Medicare-levy-reduction/Medicare-levy-reduction-for-low-income-earners/
# Maps each financial year to list of (lower threshold, upper threshold)
medicare_levy_threshold = {
	2024: (26000, 32500),  # Treasury Laws Amendment (Cost of Living—Medicare Levy) Act 2024
	2023: (24276, 30345),
	2022: (23365, 29207)
}

# FBT type 1 gross-up factor
# https://www.ato.gov.au/rates/fbt/#GrossupratesforFBT
fbt_grossup = {
	2024: 2.0802,
	2023: 2.0802
}