Carbon Price 2012-2013 Personal Income Tax Rates
[11.7.11 | 0 comments ] , , ,

The Gillard Government has announced new Australian Personal Income Tax Rates in conjunction with their plan for carbon pricing. The tax changes come in two parts, firstly commencing in 2012-2013. Secondary changes will be introduced in 2015-2016.

The major changes include an increase to the tax free threshold as well as increases to the first and second marginal rates (from 15% to 19% for the first rate and from 30% to 32.5% and later 33% for the second).

2012 to 2013 Financial year Australia Personal Income Tax Rates:

$0 – $18,200 - Nil

$18,201 – $37,000 - 19c for each $1 over $18,200

$37,001 – $80,000 - $3,572 plus 32.5c for each $1 over $37,000

$80,001 – $180,000 - $17,547 plus 37c for each $1 over $80,000

$180,001 and over - $54,547 plus 45c for each $1 over $180,000

2011-2012 Personal Income Tax Rates

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Im not a right wing nut job, far from it. I just believe that the world doesnt owe you a living, you make your own luck (was that Kevin Rudd?) and if you work hard you can succeed.

Thats not to say that we shouldnt help those who cant help themselves. I have a firm belief in giving a helping hand up to those who genuinely need it. (please give generously to my linked charities)

I call myself a realist and i want to tell it like it is. Somebody has to speak the truth. Because seriously, what a selfish bunch of insular tools we have become in today's dreamy Australia.

Maybe we arent so different to the rest of the world. And maybe it was always this way.

Anyway, until things change, i remain young and grumpy.

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