Ato Income Tax Rates 2024-24. The financial year in australia starts on 1 july and. Income tax department > tax tools > tax calculator.
Ato produces a range of tax tables to help employers work out how much to withhold from payments they make to their employees or other payees. 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 people earning between $45,000.