Estimate your tax cut
Taxable income
- Note: Due to the $18,200 tax‐free threshold and the low income tax offset, individuals will not pay income tax if they have taxable income below $22,575 in 2024–25 and 2025–26, $22,866 in 2026–27 and $23,200 in 2027–28.
- Note: Individuals may also benefit from the increase to the Medicare levy low‐income thresholds from 2024–25 onwards announced in the 2025–26 Budget.
Tax cuts by year
Tax cuts
Since 2024–25
New tax cuts
2026–27
+ 1
combined tax cut compared to 2023–24
New tax cuts
From 2027–28
+ 1
combined annual ongoing tax cut compared to 2023–24
1. Compared to 2024–25 tax settings.
Disclaimer
- This tool provides stylised representations of estimated annual tax cuts based on the taxable income of an individual. Your actual tax cut will depend on individual circumstances. This may result in an actual tax outcome that is different to what is presented above. The new tax cuts are subject to passage of legislation.
- The reduction in tax liability is calculated by considering only the basic tax scales for the relevant income year, the low income tax offset for the relevant income year (as applicable) and the Medicare levy settings for the 2023–24 income year for a single non‐pensioner with no dependents.
- Depending on your individual circumstances your tax cut may not be received as a lump sum. For most taxpayers it will be reflected incrementally each payday.
- The tool is not intended to provide taxation or financial advice and should not be relied on as an accurate assessment of your individual tax affairs.
- Taxpayers should seek independent, expert advice on their taxation and financial affairs (as appropriate).