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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.

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