Individual Tax Rates 2024 Ato. What you can do with the supplementary tax. These changes are now law.
The maximum you can contribute as a concessional contribution for the 2023/2024 financial year is $27,500. A cut in the 19% tax rate to 16%, saving $804 for those on taxable incomes of $45,000.
The Maximum You Can Contribute As A Concessional Contribution For The 2023/2024 Financial Year Is $27,500.
Itโs important to note that individuals with income under $18,200 are exempt from paying taxes, while those earning above $180,001 are subject to a 45% tax rate.
How Much Money In This Stack?
A cut in the 32.5% rate to 30% for incomes between $45,000 and $135,000.
Reduce The 19 Per Cent Tax Rate To 16 Per Cent.
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There Were Further Amendments In 2019.
Reduce the 19 per cent tax rate to 16 per cent.
The Financial Year For Tax Purposes For Individuals Starts On 1St July And Ends On 30 June Of The Following Year.
You donโt need to do anything to get the tax cut.
The Maximum You Can Contribute As A Concessional Contribution For The 2023/2024 Financial Year Is $27,500.