The tax rates featured in the table below apply in 2009–2010 for minors who:
are Australian residents
are not excepted persons, and
have no excepted income.
Other income
Tax rates
$0 – $416
Nil
$417 – $1,307
Nil + 66% of the excess over $416
Over $1,307
45% of the total amount of income that is not excepted income
If the minor’s taxable income is less than $63,750, they will get the low income tax offset. The maximum tax offset of $1,350 applies if their taxable income is $30,000 or less. This amount is reduced by four cents for each dollar over $30,000.
Example
Kris is 15 years old. She has no excepted income and $900 in other income. The tax payable on her income is:
Excess over $416 = $900 – 416 = $484
66% of the excess = $484 x 66% = $319.44
As Kris’s taxable income is less than $30,000, she gets the maximum tax offset of $1,350. The net amount payable by Kris is $0 ($319.44 – $1,350).
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