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Income tax cuts are coming

tax cuts

Labor is sticking to its Stage 3 income tax cut plans. Here’s what it means for your income… The plan, which passed into law in 2019 with Labor’s support, will remove the bracket taxing 37 cents of each dollar of earnings between $120,001 and $180,000. The $180,000 top bracket limit will expand to $200,000. It…

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New Income Tax cuts by 16 November

The Federal Government announced income tax cuts for working Australians in the 2020 Federal Budget. The cuts must be included in any pay runs processed from (no later than) 16 November 2020, giving millions of Australians a few extra dollars in their bank account each week. Employers need to make sure they’re passing it on.…

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Federal Budget 2020 – What it means for you

Budget night is always full of opinion and commentary, sometimes it can be difficult to identify the facts. We’ve cut through the noise to highlight the items that we think will affect your hip pocket… Individuals: Income tax cuts                Low-and middle-income earners who earn below $180,000 will see a tax cut equaling between $500-$2,745…

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