2020 Federal Budget – Key Take-aways
Individuals Personal income tax cuts Date of effect 1 July 2020 Tax thresholds Tax rate Current From 1 July 2020 From 1 July 2024 0% $0 – $18,200 $0 – $18,200 $0 – $18,200 19% $18,201 – $37,000 $18,201 – $45,000 $18,201 – $45,000 30% $45,001
7 October 2020