In accordance with the tax cuts announced in the 2008 budget, the personal income tax thresholds for the 2010- 2011 year will be as follows:
Income threshold Tax rate
$0 - $6,000 0%
$6,001 - $37,000 15%
$37,001 - $80,000 30%
$80,001 - $180,000 37%
$180,000+ 45%
These personal tax rates differ from the tax rates for 2009-2010 in that the income threshold for the 30% tax rate has been increased from $35,000 to $37,000 and the 38% tax rate has been reduced to 37%.
Additionally, the low income tax offset will increase to $1,500 from its current $1,350 with the upper income threshold being raised to $67,500 from $63,750.