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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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NSW Land Tax

Starting from 1 February 2024, changes are coming into effect concerning the principal place of residence exemption from land tax. If you’re planning to purchase or currently own a property, here’s what you need to know: Key changes From 1 February 2024, anyone who purchases and occupies a property but own less than 25% interest

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Stage 3 tax cut changes announced

The Prime Minister has announced new tax cuts. The following are changes to the Stage 3 tax cuts: Therefore, following these announcements and assuming amending legislation is passed, the Australian resident personal income tax rates from 1 July 2024 will be: Resident individuals Up to $18,200 Nil $18,201 to $45,000 16% on part over $18,200 $45,001

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