Tax update

Important Update on Tax Rate and Medicare Levy threshold for 2024-25

The Treasury Laws Amendment (Cost of Living Tax Cuts) Bill 2024 was introduced into Parliament on Wednesday 6 February 2024, bringing changes to existing individual tax rates. Let’s drive into the details: Tax Rate Adjustments for 2024-25 The new legislation proposes adjustments to the tax rates for both resident and non-resident individuals, as well as […]

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Tax Exemption Removed For Government Employees Working Overseas

Tax update for Australian residents working overseas In the 2015-16 Federal Budget, the government announced that it will amend the law to remove the income tax exemption available to government employees who work overseas to deliver Official Development Assistance (ODA). Under current arrangements, the income of Australian residents who work overseas for more than 90

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