The Australian Taxation Office (ATO) has announced planned individual Income Tax rates and threshold changes from 1 July 2024. --- Individual Income Tax rates and threshold changes Changes to Individual Income Tax rates and thresholds from 1 July 2024. On 25 January 2024, the government announced proposed changes to Individual Income Tax rates and thresholds from 1 July 2024. These changes are not yet law. From 1 July 2024, the proposed tax cuts will: reduce the 19 per cent tax rate to 16 per cent reduce the 32.5 per cent tax rate to 30 per cent increase the threshold above...