1st November 2020 | Tax
The upper threshold of the 19% tax bracket will rise from $37,000 to $45,000, and the upper threshold of the 32.5% tax bracket will increase from $90,000 to $120,000. This will be worth the equivalent of $41 a week for those earning between $50,000 and $90,000 a year. Roughly $49 a week to those earning more than $120,000 a year. This will assist with the Tax strategy, which can increase from 37k to 45k at 19%.
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