End Of Year Tax Planning Checklists

The personal income tax scale stage 2 tax cuts under measures set forth in 2018 were brought forward and take effect from 1 July 2020 for the 2020-21 and following years.

The Low and Middle Income Tax Offset has been extended for another year to include 2021-22 and increased by $420.

During the year, business depreciation write-off rules were liberalised as part of the government’s Covid-19 response measures.

For businesses under $5 billion aggregated revenue, the expanded write-off allowance for new business assets has been extended out to fully 100% deductible until 30 June 2023 (subject to dates and qualifying conditions).

The Federal Budget on 29 March 2022 did not result in any changes to tax rates or income thresholds for the 2022-23 income year. The extension and increase of the low and middle income tax offset by $420 is payable upon assessment of individuals’ income tax returns for the 2021-22 income year

For further noteworthy changes for the 2022 year see the 2022 Tax Rates page.

2022

2021

2020

2019

2018

2017

2016

2015 and earlier

See also:

This page was last modified 2022-06-01