Tax cut calculator
Calculate your tax cut for 2024-2025 onwardsEstimate your tax cuts
How changes to stage-three tax cuts will affect you
| Income | Current tax (23-24) | Original stage 3 tax | Original tax cut | Revised stage 3 tax | Revised tax cut | Tax cut change |
|---|---|---|---|---|---|---|
| $50,000.00 | $6,717.00 | $6,592.00 | $125.00 | $5,788.00 | $929.00 | $804.00 |
Based on your income:
- The original stage 3 tax cut was $125.00 compared to 2023-24 tax bracket.
- You will receive a tax cut of $929.00 compared to 2023-24 tax bracket with the new change.
- That's $804.00 better than the original stage 3 tax cuts.
- You will receive a tax cut of $929.00 compared to 2023-24 tax bracket with the new change.
- That's $804.00 better than the original stage 3 tax cuts.
Tax cut vs income
Stage 3 tax cut quick reference
| Income | Current tax (23-24) | Original stage 3 tax | Original tax cut | Revised stage 3 tax | Revised tax cut | Tax cut change |
|---|---|---|---|---|---|---|
| $20,000.00 | $342.00 | $342.00 | $0.00 | $288.00 | $54.00 | $54.00 |
| $30,000.00 | $2,242.00 | $2,242.00 | $0.00 | $1,888.00 | $354.00 | $354.00 |
| $40,000.00 | $4,142.00 | $4,142.00 | $0.00 | $3,488.00 | $654.00 | $654.00 |
| $50,000.00 | $6,717.00 | $6,592.00 | $125.00 | $5,788.00 | $929.00 | $804.00 |
| $60,000.00 | $9,967.00 | $9,592.00 | $375.00 | $8,788.00 | $1,179.00 | $804.00 |
| $70,000.00 | $13,217.00 | $12,592.00 | $625.00 | $11,788.00 | $1,429.00 | $804.00 |
| $80,000.00 | $16,467.00 | $15,592.00 | $875.00 | $14,788.00 | $1,679.00 | $804.00 |
| $90,000.00 | $19,717.00 | $18,592.00 | $1,125.00 | $17,788.00 | $1,929.00 | $804.00 |
| $100,000.00 | $22,967.00 | $21,592.00 | $1,375.00 | $20,788.00 | $2,179.00 | $804.00 |
| $110,000.00 | $26,217.00 | $24,592.00 | $1,625.00 | $23,788.00 | $2,429.00 | $804.00 |
| $120,000.00 | $29,467.00 | $27,592.00 | $1,875.00 | $26,788.00 | $2,679.00 | $804.00 |
| $130,000.00 | $33,167.00 | $30,592.00 | $2,575.00 | $29,788.00 | $3,379.00 | $804.00 |
| $140,000.00 | $36,867.00 | $33,592.00 | $3,275.00 | $33,138.00 | $3,729.00 | $454.00 |
| $150,000.00 | $40,567.00 | $36,592.00 | $3,975.00 | $36,838.00 | $3,729.00 | -$246.00 |
| $160,000.00 | $44,267.00 | $39,592.00 | $4,675.00 | $40,538.00 | $3,729.00 | -$946.00 |
| $170,000.00 | $47,967.00 | $42,592.00 | $5,375.00 | $44,238.00 | $3,729.00 | -$1,646.00 |
| $180,000.00 | $51,667.00 | $45,592.00 | $6,075.00 | $47,938.00 | $3,729.00 | -$2,346.00 |
| $190,000.00 | $56,167.00 | $48,592.00 | $7,575.00 | $51,638.00 | $4,529.00 | -$3,046.00 |
| $200,000.00 | $60,667.00 | $51,592.00 | $9,075.00 | $56,138.00 | $4,529.00 | -$4,546.00 |
| $210,000.00 | $65,167.00 | $56,092.00 | $9,075.00 | $60,638.00 | $4,529.00 | -$4,546.00 |
| $220,000.00 | $69,667.00 | $60,592.00 | $9,075.00 | $65,138.00 | $4,529.00 | -$4,546.00 |
*This instrument serves solely for demonstration purposes.
*It should not be used as a substitute for professional tax or financial advice, nor should it be considered a precise evaluation of one's personal tax situation.
*The calculations presented in this instrument are derived by comparing the 2023–24 tax rates with the anticipated 2024–25 tax rates and thresholds, pending legislative approval.
The Government has announced it will deliver tax cuts to all Australian taxpayers.
From 1 July 2024, the Albanese Labor Government will:
- Reduce the 19 per cent tax rate to 16 per cent for incomes between $18,200 and $45,000.
- Reduce the 32.5 per cent tax rate to 30 per cent for incomes between $45,000 and the new $135,000 threshold.
- Increase the threshold at which the 37 per cent tax rate applies from $120,000 to $135,000.
- Increase the threshold at which the 45 per cent tax rate applies from $180,000 to $190,000.
Current tax rates
| Income Range | Tax Rate (%) |
|---|---|
| 0 – 18,200 | Tax Free |
| 18,201 – 45,000 | 19 |
| 45,001 – 120,000 | 32.5 |
| 120,001 – 180,000 | 37 |
| > 180,001 | 45 |
Original stage 3 rates from 2024–25
| Income Range | Tax Rate (%) |
|---|---|
| 0 – 18,200 | Tax Free |
| 18,201 – 45,000 | 19 |
| 45,001 – 200,000 | 30 |
| > 200,000 | 45 |
New tax rates from 2024–25
| Income Range | Tax Rate (%) |
|---|---|
| 0 – 18,200 | Tax Free |
| 18,201 – 45,000 | 16 |
| 45,001 – 135,000 | 30 |
| 135,001 – 190,000 | 37 |
| > 190,001 | 45 |
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