Flood Levy (2011-12 only):
A temporary flood levy will apply to both resident and
non-resident individuals for the 2011-2012 income year only.
Taxable
Income
|
Flood
Levy Rate
|
$0-$50,000
|
0.0%
|
$50,001-$100,000
|
0.5% for each $ 1 over $50,000
|
100000 and over
|
$250 + 1.0% for each $1 over $100,000
|
Note: Exemptions apply to certain individuals in receipt of
an Australian Government Disaster Recovery Payment for a flood event or
individuals who were affected by an event that occurred during 2010-11 and that
was declared as a natural disaster under the Natural Disaster Relief and
Recovery Arrangements.