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2008 Budget
2008 Budget
Personal income tax cuts
The Government will deliver in full the tax cuts it announced during the 2007 election campaign (including deferring the previously budgeted reductions in the top marginal tax rate until beyond 2010-11), as follows:
|
Current (2008) tax thresholds |
Tax rate (%) |
New tax thresholds from 1 July 2008 |
Tax rate (%) |
|
0 - $6,000 |
0 |
0 - $6,000 |
0 |
|
$6,001 - $30,000 |
15 |
$6,001 - $34,000 |
15 |
|
$30,001 - $75,000 |
30 |
$34,001 - $80,000 |
30 |
|
$75,001 - $150,000 |
40 |
$80,001 - $180,000 |
40 |
|
$150,001+ |
45 |
$180,001+ |
45 |
