Tax Brackets 2024 Australian Government. The proposed tax cuts reduce the 19% tax rate to 16%, reduce the 32.5% tax rate to 30%, increase the threshold for the 37% tax rate from $120,000 to $135,000, and increase the threshold for the 45% tax rate from $180,000 to $190,000. The australian tax office (ato) collects income tax from working australians each financial year.
This information is based on our interpretation of relevant superannuation and taxation laws as at 1 july 2024. Reduced the 19 per cent tax rate to 16 per cent.
Tax Brackets 2024 Australian Government Images References :