Tax Calculator - Calculate your 2011 tax cut
- Arnold Shields
- Apr 9, 2010
- 1 min read
Updated: Jun 20
How Much Will You Save in Tax from 1 July 2010?
From 1 July 2010, changes to the personal income tax rates in Australia are set to deliver modest tax savings for many individuals.
What's Changing?
The 15% tax threshold has increased from $35,000 to $37,000
The marginal tax rate for income between $80,001 and $180,000 has been reduced from 38% to 37%
What Does That Mean for You?
If you earn:
$70,000 per year – you’ll save approximately $5.77 per week
$200,000 per year – you’ll save around $25 per week
These savings result from the expanded tax brackets and rate reductions, offering a slight boost to your take-home pay.
Use Our Free Tax Calculator
Want to know your exact tax savings from 1 July 2010?
Try our quick and easy Tax Calculator to estimate your new tax position. It’s fast, accurate, and designed for Australian taxpayers.
Disclaimer:
The information provided in this article is general in nature and does not constitute personal financial, legal or tax advice. While every effort has been made to ensure the accuracy of this content at the time of publication, tax laws and regulations may change, and individual circumstances vary. Dolman Bateman accepts no responsibility or liability for any loss or damage incurred as a result of acting on or relying upon any of the information contained herein. You should seek professional advice tailored to your specific situation before making any financial or tax decision.
