Tripling the tax-free threshold

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The tax-free threshold will triple from its current limit of $6000 to $18,200 in 2012/13. Those taxpayers earning less than $80,000 per annum will get a tax cut, with most receiving an additional $300 per year. And if you’re working part-time, you could see an extra $600 per year in your salary. Now, before you get excited, these tax cuts have already been announced under the Clean Energy Household Assistance package and are to offset increased household costs due to the implementation of the price on carbon pollution.

Written by Debbie McTaggart



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