TAX TUTOR INSIDE IS YOUR TAX GUIDE FOR

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1 TAX TUTOR INSIDE IS YOUR TAX GUIDE FOR

2 PERSONAL TAX PERSONAL INCOME TAX RATES & Taxable Income $0 - $18,200 Nil Tax Payable $18,201 - $37,000 19% of excess over $18,200 $37,001 - $80,000 $3, % of excess over $37,000 $80,001 - $180,000 $17, % of excess over $80,000 $180,001 and over $54,547 + of excess over $180,000 Australian Resident tax rates only. A low income rebate of $445 applies. MEDICARE LEVY THRESHOLDS Income Type Taxable Income Medicare Levy Singles Married and Family income* $0 - $20,542 Nil $20,543 - $24,166 Nil + 10% excess over $20,542 $24,167 and over 1.5% of entire taxable income $0 - $33,693 Nil $33,694 - $39,637 Nil + 10% excess over $33,693 $39,638 and over 1.5% of entire taxable income *Based on no dependent children. For each additional dependant, add $3,094 to the lower limit. Where there are more than six dependent children or students, add $3,094 for each extra child or student to the lower limit and $3,640 for each extra child or student to the upper limit. Reductions to the full 1.5% Medicare Levy also apply for single seniors and couples, and low age singles and couples. MEDICARE LEVY SURCHARGE From 1 July 2012, the Medicare Levy Surcharge (MLS) is income tested against the following income tier thresholds: Unchanged Tier 1 Tier 2 Tier 3 Single $88,000 $88,001-$102,000 $102,001-$136,000 $136,001+ Family* $176,000 $176,001-$204,000 $204,001-$272,000 $272,001+ Rate 0.00% 1.00% 1.25% 1.50% *The family income threshold is increased by $1,500 for every child after the first child. LOW INCOME TAX OFFSET Taxable Income $0 - $37,000 $445 Calculation $37,001 - $66,667 $445 - [(Taxable income - $37,000) x 0.015] $66,668 and over NIL

3 PERSONAL TAX CHILD INCOME TAX RATES (RESIDENT ONLY) Except for certain personal exertion income (eg. wages), the unearned income of most children under 18 years of age will be taxed at the following rates (ignoring any low income rebates): $0 - $416 Nil $417 - $1,307 66% of excess over $417 $1,307 and over of entire amount Where a child under 18 years of age earns income from personal effort (eg. part-time work), that income will be subject to normal personal tax rates. For , a trust distribution of up to $416 ($416 in 2013) may be paid to a beneficiary under 18 years of age with no tax being payable on the trust distribution provided the child has no other unearned income and the child s taxable income is less than $416. CAPITAL GAINS TAX CALCULATOR Concessions/Discounts Discount on capital gains for individuals and trusts* 50% Discount on capital gains for superannuation funds* 33.33% Net asset threshold for small business concessions $6,000,000 Retirement exemption on capital gains $500,000 CGT Cap Amount ( ) $1,255,000 Indexation frozen from 30/09/1999 at indexation no CGT improvement threshold $134,200 CGT improvement threshold $130,418 *Assets must have been held for at least 12 months other limitations may apply. Other small business concessions may also apply.

4 BUSINESS TAX COMPANY & SUPERANNUATION FUND TAX RATES Company Tax Rate Superannuation Fund Tax Rate DIVISION 7A BENCHMARKS FOR RELATED PARTY LOANS Income year ending 30 June % 7.80% 7.4% BAS & PAYG INFORMATION (QUARTERLY) Installment Quarter Payment Date 1 July - 30 September October October - 31 December February January - 31 March April April - 30 June July 2014 Monthly Business Activity Statement (BAS) and Instalment Activity Statement (IAS/PAYG) payments are due 21 days after the end of each month. MOTOR VEHICLE LUXURY CAR DEPRECIATION LIMITS $57, $57, $57, $57,466 MOTOR VEHICLE DEDUCTIONS Engine Capacity Engine Capacity Rotary Engine Cents per KM Small Car Not exceeding 1600cc Not exceeding 800cc 63c Medium Car Exceeding 1600cc, not exceeding 2600cc Exceeding 800cc, not exceeding 1300cc 74c Large Exceeding 2600cc Exceeding 1300cc 75c Car Limited to a maximum of 5,000km.

5 SUPERANNUATION EMPLOYER SUPERANNUATION OBLIGATIONS Super Guarantee Contributions Payable 28 th Jan, April, July, Oct 9% 9.25% SUPERANNUATION FOR INDIVIDUALS Maximum contribution base for SG purposes Per quarter limit $45,750 $48,040 Equivalent annual limit $183,000 $192,160 Superannuation Co-Contributions - 1 July 2013 $0.50 for every $1 contributed to a maximum amount of $500 Assessable Income Lower $33,516 Upper $48,516 Withdrawal Rate.0333 cents in the dollar above the lower threshold Superannuation Contributions Caps - 1 July 2013 Contributions Cap Excess Contributions Tax Concessional Cap Up to age 60 Age 60 and over $25,000 $35, % Non-Concessional Cap $150, % Superannuation Contributions - Spouse Offset (Tax Offset of 18% of Contribution) Maximum offset $540 Maximum contribution $3,000 Lower threshold Higher threshold $10,800 $13,800 Preservation Age The Preservation Age on claiming retirement will increase from age 55 to 60. This age will increase between the years 2015 and 2025 in accordance with the following scale. For people born Age For people born Age Before July July June July June July June July June After June

6 SUPER & SENIORS SUPERANNUATION FOR SENIORS Minimum Annual Pension Payments - 1 July 2013 Age Min Pension Age Min Pension Under % Age % Age % Age % Age % Age 95 or older 14.00% Age % Taxation of Superannuation Benefit Lump Sums - 1 July 2013 Thresholds Rate* Tax-free component 0% - taxed element^ Under Preservation Age Preservation Age to 59 Age 60 & over $0 - $180,000 - untaxed element Under Preservation Age $0 - $1,255,000 > $1,255,000 Preservation Age to 59 $0 - $180,000 $180,000 - $1,315,000 > $1,315,000 Age 60 and over $0 - $1,315,000 > $1,315,000 20% 0% 0% *Plus Medicare Levy of 1.5% ^If benefit paid has taxable component with both a taxed and untaxed element, the low rate cap applies to the taxed element first. Taxation of Death Benefit Superannuation Lump Sums - 1 July 2013 Dependants Non-Dependants Tax-Free Component 0% 0% Taxable Component 0% * * Plus Medicare Levy of 1.5% A dependant for tax purposes is defined as a) a spouse/de facto spouse; b) a former spouse/de facto spouse; c) a child of the deceased under 18 years of age; d) any person who relied on the deceased for financial maintenance at time of death; e) any person who lived with the deceased in a close personal relationship where one or both provided financial/domestic support and personal care.

7 WORKERS & STUDENTS EMPLOYMENT TERMINATION PAYMENTS Life Benefit Employment Termination Excluded Payments - 1 July 2013 Thresholds Max. Tax Rate Tax-free component 0%** Pre-Preservation Age Up to $180,000 Preservation Age or over Up to $180,000 Life Benefit Employment Termination Non-Excluded Payments - 1 July 2013 Thresholds Max. Tax Rate Tax-free component 0%** Pre-Preservation Age Up to $180,000*** *** Preservation Age or over Up to $180,000*** *** Death Benefit Employment Termination Payments - 1 July 2013 Thresholds Max. Tax Rate* Dependant Tax-fee component Non-Dependant Tax-free component Up to $180,000 Up to $180,000 0%** 0% 0%** OTHER TERMINATION PAYMENTS Non-ETP Lump Sum Payments - 1 July 2013 Period of Accrual Assessable Amount Max. Tax Rate* Unused Long Service Leave Pre-16/8/78 16/8/78-17/8/93 Post-17/8/93 5% Marginal rate Marginal rate Accrued Annual Leave Pre-18/8/93 Post-17/8/93 Marginal rate * Plus Medicare Levy of 1.5% ** Not assessable ***The whole-of-income cap is reduced by other taxable income.

8 WORKERS & STUDENTS REDUNDANCY & EARLY RETIREMENT PAYMENTS Unused Long Service Leave Period of Accrual Pre-16/8/78 Post-16/8/78 Assessable Amount 5% Max. Tax Rate* Marginal rate Accrued Annual Leave Full Period *Tax rates Exclude Medicare Levy which needs to be added to the applicable rate (unless rate is 0%). Bona Fide redundancy tax-free amount is $9,246 + $4,624 for each completed year of service. HELP/HECS REPAYMENT THRESHOLDS HELP Repayment Income Rate applied to HELP Repayment Income* HELP Repayment Income Rate applied to HELP Repayment Income* Below $51,309 Nil Below $49,096 Nil $51,309 - $57, % $49,096 - $54, % $57,154 - $62, % $54,689 - $60, % $62,998 - $66, % $60,280 - $63, % $66,309 - $71, % $63,449 - $68, % $71,228 - $77, % $68,203 - $73, % $77,195 - $81, % $73,865 - $77, % $81,257 - $89, % $77,752 - $85, % $89,422 - $95, % $85,565 - $91, % $95,288 and over 8.0% $91,178 and over 8.0% *From 1 July 2009, this is calculated as the sum of: taxable income plus any net investment loss (including net rental losses); total reportable fringe benefits amounts; reportable super contributions and exempt foreign employment income. The material in this brochure contains general advice that has been prepared without considering your objectives, financial situation or needs. It should only be used as a guide and any specific advice relevant to your circumstances should be sought from your accountant at The Peak Partnership on telephone Peak Partnership Pty Ltd ABN

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