BUDGET 2016 - INDIVIDUALS
PERSONAL INCOME TAX
From 1 July 2016, the 32.5% personal income tax threshold will increase from $80,000 to $87,000. This is a tax saving of $315 for individuals earning more than $87,000.
High income earners who earn over $180,000 are currently paying a 2% Temporary budget Repair Levy, this is scheduled to be removed on 30 June 2017.