Marginal Tax Rates 2024 Australia. What your take home salary will be when tax and the medicare levy are removed; This amount is the tax on taxable income before you take into account tax.
A 62.5% marginal tax rate applies to taxable value uplift between $1,000,000 and $5,000,000. The mls is calculated at a rate of 1% to 1.5% of taxable income in 2024, depending on income level and family situation [see table below].