Prime Minister Anthony Albanese and Treasurer Jim Chalmers have hinted at possible changes to the already legislated tax package in Australia. The changes would benefit 'middle Australia' and potentially limit the benefits for top income earners.
Prime Minister Anthony Albanese and Treasurer Jim Chalmers have hinted at possible changes to the already legislated tax package in Australia . The changes would benefit 'middle Australia ' and potentially limit the benefits for top income earners. Currently, Australia has five different tax brackets , with the highest bracket taxed at 45%. From July 1, 2024, the tax brackets will be adjusted, with a single 30% bracket and an increased threshold for the top bracket.
This means that more than 95% of taxpayers will pay a marginal tax rate of 30% or less
Australia Tax Package Tax Brackets Middle Australia Top Income Earners
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