Getting Ready For Tax Time
She's On The Money
00:00
The Tax Cuts for Single Seniors and Pensioners
The average marginal tax rate is 32.5%. It's going to be cut back and we're going to be paying less tax if you're in that bracket. The 37% tax bracket will be entirely abolished at this time, which is kind of cool. From the 1st of July 2024, there's only going to be three personal income tax brackets, so 19%, 30%, and 45%. They'll face a marginal tax rate of 30%. And with these changes, around 94% of Australian taxpayers are projected to face a marginalTax rate of 30% or less. That is such low average tax rate. I think that that's really sexy. More people better off when it comes to
Transcript
Play full episode
