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Announced in the 2018 Budget were a number of adjustments to the personal income tax rates taking effect in the years from 1 July 2018 through to 1 July 2024. The legislation is here.
Reflected in the following table, for the 2 years from 1 July 2022 to 30 June 2024 the 32.5% ceiling is lifted to $120,000.
The 2022-23 financial year runs from 1 July 2022 to 30 June 2023.
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