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Australian Government Coat of Arms

Budget | 2015-16

Budget 2015-16
Australian Government Coat of Arms, Budget 2015-16

Appendix C - 2015-16 support for households

Estimated tax and government assistance for various family types in 2015‑16

Family type

Private income(a)

Government assistance(b)

Income tax paid(c)

Disposable income(d)

Net income tax liability(e)

Full time taxpayer contribution(f)

Sole Parent

One dependant, aged <6 $60,000 $20,179 $12,147 $68,032 -$8,032 0.4
Two dependants, aged <6 $30,000 $38,838 $2,534 $66,304 -$36,304 1.9
Two dependants, aged 6-13 $40,000 $21,371 $4,147 $57,224 -$17,224 0.9

Single income couple

One dependant, aged <6 $60,000 $7,630 $12,147 $55,483 $4,517 -
Two dependants, aged 6-13 $100,000 $6,781 $26,947 $79,834 $20,166 -
Three dependants, one aged <6 and two aged 6-13 $80,000 $24,644 $19,147 $85,497 -$5,497 0.3

Dual income couple

70:30 income split, one dependant, aged <6 $80,000 $11,704 $11,674 $80,030 -$30 -
70:30 income split, two dependants, one aged <6 one aged 6-13 $80,000 $17,001 $11,674 $85,327 -$5,327 0.3
70:30 income split, three dependants, one aged <6, two aged 6-13 $80,000 $25,233 $11,674 $93,559 -$13,559 0.7
50:50 income split, one dependant, aged <6 $100,000 $3,201 $17,094 $86,107 $13,893 -
50:50 income split, two dependants, one aged < 6, one aged 6-13 $100,000 $20,499 $17,094 $103,405 -$3,405 0.2
50:50 income split, two dependants, aged 6-13 $60,000 $13,434 $4,794 $68,640 -$8,640 0.5

The Government provides a range of further payments and assistance, including:

  • Rent Assistance
  • Health Care Cards and associated subsidies for medications
  • Family Support Programme
  • Assistance for carers
  • Home and Community Care
  • Aged Care

Family type

 

Private income(a)

Government assistance(b)

Income tax paid(c)

Disposable income(d)

Net income tax liability(e)

Full time taxpayer contribution(f)

Individuals

 

Single person working 5 days a week   $40,000 - $4,947 $35,053 $4,947 -
Single person working 5 days a week   $80,000 - $19,147 $60,853 $19,147 -
Single person working 5 days a week   $100,000 - $26,947 $73,053 $26,947 -

Pensioners

Single homeowner with $50,000 in assets(g)

  $896 $22,617 $0 $23,513 -$22,617 1.2

Single non-homeowner with $100,000 in assets(g)(h)

  $2,521 $25,995 $0 $28,516 -$25,995 1.4

Couple homeowner with $200,000 in combined assets(g)

  $5,291 $34,095 $0 $39,386 -$34,095 1.8

Couple homeowner with $400,000 in combined assets(g)

  $11,791 $29,864 $0 $41,655 -$29,864 1.6

(a) Private income comprises income from work and other sources (but not government assistance). Some recipients work part time.

(b) Government assistance includes income support payments (for example, Newstart, Age Pension and Parenting Payment), family payments (for example, Family Tax Benefit Part A and Part B) and Childcare Benefit and Childcare Rebate. Rent Assistance is excluded except where otherwise stated. Children <6 are in long day care (at $8.55 per hour) and children 6-13 are in outside school hours care (at $7.65 per hour) as relevant.

(c) Tax paid is equal to income tax including the Medicare Levy and the Temporary Budget Repair Levy.

(d) Disposable income is the sum of private income and government payments less tax paid.

(e) Net tax liability is equal to tax paid less government payments.

(f) ‘Full-time taxpayer contribution’ refers to the number of single taxpayers with no dependents on average full time weekly ordinary time earnings required to fund negative net tax liabilities. In 2015-16, this person earns $79,454 and pays tax of $18,959.

(g) Income is assumed to be from investments which earn a rate of return equal to current deeming rates.

(h) The individual is assumed to be entitled to the maximum Rent Assistance.

* Families hold Private Health Insurance cover.