Up to 10 million workers will save up to $530 a year from 2018-19 under a new tax offset.
More than 200,000 taxpayers won’t be paying 37 percent tax rate when the 2.5 percent tax bracket is lifted to those earning $90,000 from July 1, 2018.
There’ll also be further measures to tackle bracket creep from 2022-2025, which will mean more Australians will be paying less tax under the 32.5 per cent rate. By 2025, 94 per cent of Australians will be paying the 32.5 percent tax rate.
How much will you save?
