How much will you save in tax from 1 July 2010, as a result of tax rate changes?
The changes to the tax rates for the 2010/2011 financial year, effective from 1 July 2010 are:
- increase in the 15% tax threshold from $35,000 to $37,000, and
- decrease of 1% in the rate of tax from 38% to 37% in the $80,001 to $180,000 band.
Someone on $70,000 per annum will be better off by $5.77 per week, whilst someone on $200,000 will save $25 per week from 1 July 2010.
To find out what you will save in tax from 1 July 2010, use Dolman Bateman’s quick and easy to use Tax Calculator.