|
|
|
New tax scales
 From
1 July 2009 the 40% tax rate that was applicable to income in the $80,000 to
$180,000 range will drop to 38%, and the 30% rate will now commence at
incomes of $35,000, rather than $34,000. The new 2009/2010 tax scales are as
follows:
| Taxable
income |
Tax on this income* |
| $1 to $6,000 |
Nil |
| $6,001 to $35,000 |
15c for each $1 over $6,000 |
| $35,001 to $80,000 |
$4,350 plus 30c for each $1 over $35,000 |
| $80,001 to $180,000 |
$17,850 plus 38c for each $1 over $80,000 |
| $180,001 and over |
$55,850 plus 45c for each $1 over $180,000 |
*the Medicare levy needs to be added where applicable.
For a person receiving average weekly earnings of $1,228, the tax cut will
be $2.88 per week.
Published : 8 June 2009
|
|
