Blog
Personal income tax cuts are law
Scott Robertson - Wednesday, November 30, 2016
The government has finally legislated the tax cuts originally announced in the May 2016 Budget, t
he following are the rates for adult residents for the 2016/17 income year (i.e., from 1 July 2016).
| Taxable income
|
Tax on this income
|
| 0 – $18,200
|
Nil
|
| $18,201 – $37,000
|
19c for each $1 over $18,200
|
| $37,001 – $87,000
|
$3,572 plus 32.5c for each $1 over $37,000
|
| $87,001 – $180,000
|
$19,822 plus 37c for each $1 over $87,000
|
| $180,001 and over
|
$54,232 plus 45c for each $1 over $180,000
|
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