The Government has passed Stage 3 tax cuts with amendments, these take effect on 1 July 2024 i.e. for the financial year ended 30 June 2025 (FY25), and apply to individual taxpayers. The new Marginal Tax Rate (MTR) changes are aimed at middle-income Australia and relieving the cost of living.

The previous tax rates, applicable to 30 June 2024 (FY24) are set out in our recent update - Marginal tax rates - FY23

Thank you to the MLC Technical team for today's update on the FY25 changes - you can access their flyer with the full details here.

Disclaimer: This information is general in nature and is not an opinion expressed by us. So, before acting on this or any other information, it is important to seek professional advice related directly to you and your circumstances.  Should you require our assistance, contact your Primarius Team leader, or email us at info@primarius.net.au

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