Budget 2017 Announcements

Lower Tax Rate Thresholds lifted

From 1 April 2018 the two lower rate income thresholds are being increased from $14,000 to $22,000 (tax rate 10.5%) and from $48,000 to $52,000 (tax rate 17.5%). For someone earning over $52,000 this change will provide an extra $20.38 per week in their hand.

Independent Earner Tax Credit Removed

The Independent Earner Tax Credit is to be discontinued. It allowed a tax credit of $520 per year to eligible individuals.

Click here to read more and view our newsletter