The revised stage 3 tax cuts have been approved by Parliament and will be effective from 1st July 2024. It is advisable to review any salary sacrifice agreements before the new tax rates take effect to ensure that they still align with your desired outcome. 

If you want to ensure that you take full advantage of the new tax cuts and optimise your tax planning, we are here to help! Contact us today to schedule a consultation.

Resident individuals

Tax rate2023-242024-25 
0%$0 – $18,200$0 – $18,200
16%$18,201 – $45,000
19%$18,201 – $45,000
30%$45,001 – $135,000
32.5%$45,001 – $120,000
37%$120,001 – $180,000$135,001 – $190,000
45%>$180,000 >$190,000

Non-resident individuals

Tax rate2023-242024-25 
30%$0 – $135,000
32.5%$0 – $120,000
37%$120,001 – $180,000$135,001 – $190,000
45%>$180,000 >$190,000

Working holiday markers

Tax rate2023-242024-25 
15%0 – $45,0000 – $45,000
30%$45,001 – $135,000
32.5%$45,001 – $120,000
37%$120,001 – $180,000$135,001 – $190,000
45%>$180,000>$190,000