Stage 3 Tax Cuts – Effective 1st July 2024

Stage 3 Tax Cuts – Effective 1st July 2024

What are the changes? Reduce 19% tax rate to 16% (for incomes between $18,200 and $45,000) Reduce the 32.5% tax rate to 30% (for incomes between $45,000 and $135,000) Increase the threshold at which the 37% tax rate applies from $120,000 to $135,000 Increase the...