Labor's Tax Cuts

Labor's Tax Cuts Main Image

The Government has announced it will deliver tax cuts to all Australian taxpayers.

From 1 July 2024, the 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

To see how much you will save, please visit https://treasury.gov.au/tax-cuts/calculator