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Changes to Individual Income Tax Rates

On 25 January 2024, the government announced changes to Individual income tax rates and thresholds from 1 July 2024. These changes are now law.


From 1 July 2024, the proposed tax cuts will:

  • reduce the 19 per cent tax rate to 16 per cent

  • reduce the 32.5 per cent tax rate to 30 per cent

  • increase the threshold above which the 37 per cent tax rate applies from $120,000 to $135,000

  • increase the threshold above which the 45 per cent tax rate applies from $180,000 to $190,000.




For more information see:


Or call steve Zoccoli on 0414 928 352



Changes to Individual income tax rates

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