As expected, the Budget cut the top and bottom income tax rates for individuals, but delivered larger than expected benefits for middle income earners. Previously, personal tax rates were hinted at falling from 38cents, 33 cents, 21cents and 12.5cents to 33 cents, 19cents and 10 cents. In reality they fell as follows:
ncome above $70,000 pre budget 38 cents - 1 October 2010 33 cents
Income from $48,001 to $70,000 pre budget 33 cents - 1 October 2010 30 cents
Income from $14,001 to $48,000 pre budget 21 cents - 1 October 2010 17.5 cents
Income from $0 to $14,000 pre budget 12.5 cents - 1 October 2010 10.5 cents
No comments:
Post a Comment