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A Comparison Of 2023-24 vs 2024-25 Tax Rates (Tax Cut Calculator)

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.

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The Tax Scales – How They Compare

Taxable Income2023-24 Tax Scale2024-25 Tax Scale
0 to $18,200NilNil
$18,201 to $45,00019c for each $1 over $18,20016c 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
Chart showing the amount of tax saved when 2024-25 stage 3 tax rates are compared to the 2023-24 rates at various income levels up to $250,000

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