Changes to Income Tax Rates from 2024/2025

income tax

On 25 January 2024, the Government announced changes to the individual income tax rates from 1 July 2024. These changes are now law.

The changes will increase the take home pay for most Australian workers by lowering the tax withheld from their income.

To determine your tax savings, you can use the Treasury Tax Cut Calculator, accessible via the below link:

https://treasury.gov.au/tax-cuts/calculator
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If you wish to discuss how this saving can lead to further tax savings or your ability to pay off your debits sooner, reach out to Jarrad Page at Right Advice Wealth Management on 0413 099 043 for a no obligation Financial Health check.

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