Government Announces Changes to Proposed ‘Stage 3’ Tax Cuts
Despite previous assurances, the Government has unveiled tweaks to the ‘Stage 3’ tax cuts set to take effect from July 1, 2024. Notably, the proposed changes include: – Reducing the 19% tax rate to 16%, adjusting the 32.5% rate to 30% for incomes between $45,000 – A new $135,000 threshold, increasing the threshold for the …