25/03/2025
‼️2025 Federal Budget keynotes for taxpayers‼️
~Tax cuts mean every worker will be better off by $5 a week next financial year. From 2026-27, the tax rate for the $18,201–$45,000 income threshold will be reduced from 16 per cent to 15 per cent, and then 14 per cent a year later. Every taxpayer will receive a tax cut of up to $268 in the first year rising to $536 in mid-2027. This will cost the budget $17.1 billion over five years.
~The Medicare levy low-income thresholds will be increased. More than one million low-income households, seniors and pensioners will continue to be exempt from paying the levy or pay a reduced rate. For single person they will save up to $122 a year
