The Income Tax Point-in-Time Service has been updated to include the Treasury Laws Amendment (Tax Relief So Working Australians Keep More Of Their Money) Act 2019 (Cth) (Act 52 of 2019).
Schedule 1 to this Act amends the income tax law to increase the base and maximum
amounts of the low and middle income tax offset to $255 and $1,080, respectively,
for the 2018-19, 2019-20, 2020-21 and 2021-22 income years; and increase the amount
of the low income tax offset from 2022-23.
Schedule 2 to this Act amends the income tax law to reduce the tax payable by individuals in 2022-23 and later income years by increasing income tax rate thresholds and in 2024-25 and later income years by lowering income tax rates.
These amendments have been updated in the Point-in-Time Income Tax Service current to 7 July 2019. (NB: subscription required).
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