BUDGET 2025
The governments third budget has been handed down and below are some of the key components that affect most individuals and businesses. Personal income tax measures 1.1Personal tax cuts From 1 July 2024 every taxpayer will receive a tax cut. You can read about this in our previous blog here. 1.2 Increased Medicare levy low-income thresholds The Government has increased the Medicare levy low-income threshold amounts and phase in…