Tax cuts, but they are the watered down version of Libs Stage 3...

Tax cuts, but they are the watered down version of Libs Stage 3 tax cuts that benefit the higher income earners more, effective from 1 July this year.

Tax Scale 2024-25 (Stage 3 tax cuts as adjusted)

	Column 1	Column 2
0	Taxable Income	Tax On This Income
1	0 to $18,200	Nil
2	$18,201 to $45,000	16c for each $1 over $18,200
3	$45,000 to $135,000	$4,288 plus 30c for each $1 over $45,000
4	$135,000 to $190,000	$31,288 plus 37% for each $1 over $135,000
5	over $190,000	$51,638 plus 45% for each $1 over $190,000

compared to present

2023-24 Tax Scale

	Column 1	Column 2
0	Taxable Income	Tax On This Income
1	0 to $18,200	Nil
2	$18,201 to $45,000	19c for each $1 over $18,200
3	$45,001 to $120,000	$5,092 plus 32.5c for each $1 over $45,000
4	$120,001 to $180,000	$29,467 plus 37c for each $1 over $120,000
5	$180,001 and over	$ 51,667 plus 45c for each $1 over $180,000