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Anthony Albanese Confirms Tax Cuts Set for July 2024-25


Publish Date: 18/03/2024

Anthony Albanese confirms tax cuts effective from July 1, 2024.

  • The High-income earners (>$200,000) to receive a substantial $9000 annual tax cut.
  • The workers earning $200,000 annually sees tax reduced from $60,667 to $51,592.
  • The Lower-income earners ($45,000) to get a modest 43 cents-a-week tax relief, totalling $125 annually.
  • In comparison from 2022-23 the individuals now earning $50,000 to experience a mere 34 cents-a-day or $2.40-a-week tax cut.

The Australian New TAX SLAB 2024-25 shown in the table below:

tax slab

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