New tax rates from 1 July 2010
From 1 July 2010, the income threshold for the 30% tax rate bracket will increase from $35,000 to $37,000, and the 38% tax rate will reduce to 37%.
The main tax cuts will provide tax savings of about $25 per week for those earning $180,000 annually. The table below summarises resident marginal tax rates that apply from the next financial year.
