tax on 24000 australia

Ah, the joyous topic of tax on a $24,000 income in Australia. For the 2023-24 financial year, the tax-free threshold is $18,200, so you only get taxed on the $5,800 above that. The tax rate on this slice is 19%, which means you’ll cough up approximately $1,102 in income tax. Don’t forget to add the Medicare levy of 2%, which would be about $480 on the entire $24,000. So, in total, expect around $1,582 gone to the taxman. For precise figures and any deductions, check the ATO official site, or have a chat with an accountant who enjoys your pain.