About 3.5 million people will receive tax cuts, with families gaining from. These changes, announced on 30 may, are part of the annual government budget 2024.
The new tax thresholds will be $15,600 (up from $14,000 for the 10.5% rate), $53,500 (up from $48,000 for 17.5%) and $78,100 (up from $70,000 for 30%). The 2024 budget introduces a $3.7 billion annual tax package, benefiting workers earning over $14,000.
The New Bands Mean That The 10.5 Percent Tax Rate Applies On Income To $15,600, While The 17.5 Percent Tax Rate Will Apply To Income Between $15,601 And.
What are the new tax rates for 2024?
The Government Has Introduced New Personal Income Tax Rates, Effective 1 April 2024.
Increasing personal income tax thresholds.
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โข Increase Of The Trust Tax Rate To 39% โข The Most Recent.