Ato Income Tax Rates 2024/25. That means your income is taxed in brackets and not at the marginal tax rate. From 1 july 2024, the tax.

From july 1 2024, the 37 per cent marginal tax rate was to be abolished for those earning more than $120,000 a year, and the 32.5 per cent tax rate was to be reduced to 30 per cent for. All income received by individuals is taxed at progressive tax rates in australia.