Sunday, July 10, 2011

New Income Tax Rates

The tax free threshold is going up and so are 15 and 30% tax rates:I can see why the higher marginal rates aren't being emphasized anywhere... The Henry Review argued for a $25,000 tax free threshold and two tax brackets - 35% and 45% with the top rate coming in at $180,000 per year income. So this goes quite a long way there. The low income tax offset will be reduced. Why didn't they just get

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