The 1st of July 2024 marks the commencement of the stage 3 tax cuts.
To learn more about the nature of the tax cuts and the preceding history go here.
The rates shown here are those applicable for adult residents, for each of the years 2023-24 and 2024-25.
The Tax Scales – How They Compare
| Taxable Income | 2023-24 Tax Scale | 2024-25 Tax Scale |
| 0 to $18,200 | Nil | Nil |
| $18,201 to $45,000 | 19c for each $1 over $18,200 | 16c for each $1 over $18,200 |
| $45,001 to $120,000 | $5,092 plus 32.5c for each $1 over $45,000 | |
| $45,001 to $135,000 | $4,288 plus 30c for each $1 over $45,000 | |
| $120,001 to $180,000 | $29,467 plus 37c for each $1 over $120,000 | |
| $135,001 to $190,000 | $31,288 plus 37% for each $1 over $135,000 | |
| $180,001 and over | $51,667 plus 45c for each $1 over $180,000 | |
| over $190,000 | $51,638 plus 45% for each $1 over $190,000 |
How this works to reduce tax at specific levels can also be measured with a calculator. (For the purposes of comparison, the medicare levy and tax offsets are ignored.)
How Much Would You Save?
Comparison Between 2023-24 and 2024-25 Tax Rates
Enter your income to calculate the difference
This page was last modified 2024-05-20