Weekly Tax Bulletin --- Page: 835 : 5 June 2008 Original article by Mark Pizzacalla, Terry Hayes, Kirk Wilson et al
LexisNexis Summary
Lower income tax rates will be introduced in Australia on 1 July 2008. The upper limit for the 30 per cent tax rate will rise to $A80,000 per year under the reduced rates. The cuts mean that some taxpayers will be able to lower their tax by deferring income until the 2009 financial year. It could be advantageous for some employers to declare staff bonuses ahead of the end of 2007-08. No amendments to the planned personal income tax rates for the income years from 2008 to 2010 were announced in the recent Federal Budget
