What are the tax rates for individuals?

The tax rates for individuals in Australia vary depending on the level of income. As of the 2021-2022 financial year, the tax rates are as follows: - For individuals earning up to $18,200, there is no tax payable. - For income between $18,201 and $45,000, the tax rate is 19%. - Individuals earning between $45,001 and $120,000 are taxed at a rate of 32.5%. - For incomes between $120,001 and $180,000, the tax rate is 37%. - Finally, individuals earning over $180,000 are subject to the highest tax rate of 45%. Note that these rates don't include the Medicare levy, which is an additional 2% or 2.5% for high-income earners. It's important to remember that everyone's tax obligations can vary, and it's advisable to consult with the ATO or a professional tax advisor for personalized information.