Easing cost-of-living pressures

Australians keeping more of what they earn
The Government is delivering tax cuts for all 13.6 million Australian taxpayers from 1 July 2024 to ease cost‑of‑living pressures for middle Australia, return bracket creep, support women and boost labour supply.
From 1 July this year, the Government will:
reduce the 19 per cent tax rate to 16 per centreduce the 32.5 per cent tax rate to 30 per centincrease the income threshold above which the 37 per cent tax rate applies from $120,000 to $135,000increase the income threshold above which the 45 per cent tax rate applies from $180,000 to $190,000.

Read More: https://budget.gov.au/content/01-col-pressures.htm