{"id":6541,"date":"2024-06-24T14:52:01","date_gmt":"2024-06-24T04:52:01","guid":{"rendered":"https:\/\/aerogroup.com.au\/?p=6541"},"modified":"2024-06-24T14:56:27","modified_gmt":"2024-06-24T04:56:27","slug":"the-upcoming-tax-cuts-what-you-need-to-know","status":"publish","type":"post","link":"https:\/\/aerogroup.com.au\/zh\/the-upcoming-tax-cuts-what-you-need-to-know\/","title":{"rendered":"The Upcoming Tax Cuts: What You Need to Know"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"6541\" class=\"elementor elementor-6541\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3550356 elementor-section-height-min-height elementor-section-boxed elementor-section-height-default elementor-section-items-middle\" data-id=\"3550356\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;background_motion_fx_motion_fx_scrolling&quot;:&quot;yes&quot;,&quot;background_motion_fx_translateY_effect&quot;:&quot;yes&quot;,&quot;background_motion_fx_translateY_speed&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:3,&quot;sizes&quot;:[]},&quot;shape_divider_bottom&quot;:&quot;waves&quot;,&quot;_ob_glider_is_slider&quot;:&quot;no&quot;,&quot;background_motion_fx_translateY_affectedRange&quot;:{&quot;unit&quot;:&quot;%&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:{&quot;start&quot;:0,&quot;end&quot;:100}},&quot;background_motion_fx_devices&quot;:[&quot;desktop&quot;,&quot;tablet&quot;,&quot;mobile&quot;]}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t<div class=\"elementor-shape elementor-shape-bottom\" data-negative=\"false\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 1000 100\" preserveaspectratio=\"none\">\n\t<path class=\"elementor-shape-fill\" d=\"M421.9,6.5c22.6-2.5,51.5,0.4,75.5,5.3c23.6,4.9,70.9,23.5,100.5,35.7c75.8,32.2,133.7,44.5,192.6,49.7\tc23.6,2.1,48.7,3.5,103.4-2.5c54.7-6,106.2-25.6,106.2-25.6V0H0v30.3c0,0,72,32.6,158.4,30.5c39.2-0.7,92.8-6.7,134-22.4\tc21.2-8.1,52.2-18.2,79.7-24.2C399.3,7.9,411.6,7.5,421.9,6.5z\"\/>\n<\/svg>\t\t<\/div>\n\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-aff12b1\" data-id=\"aff12b1\" data-element_type=\"column\" data-settings=\"{&quot;_ob_column_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_column_has_pseudo&quot;:&quot;no&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b4c66a5 ob-harakiri-inherit ob-has-background-overlay elementor-widget elementor-widget-heading\" data-id=\"b4c66a5\" data-element_type=\"widget\" data-settings=\"{&quot;_ob_use_harakiri&quot;:&quot;yes&quot;,&quot;_ob_harakiri_writing_mode&quot;:&quot;inherit&quot;,&quot;_ob_harakiri_text_clip&quot;:&quot;none&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">The Upcoming Tax Cuts: What You Need to Know<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1820160 ob-has-background-overlay elementor-widget elementor-widget-spacer\" data-id=\"1820160\" data-element_type=\"widget\" data-settings=\"{&quot;_ob_spacerat_use&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;}\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-38a73ce elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"38a73ce\" data-element_type=\"section\" data-settings=\"{&quot;_ob_glider_is_slider&quot;:&quot;no&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1d3bec7\" data-id=\"1d3bec7\" data-element_type=\"column\" data-settings=\"{&quot;_ob_column_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_column_has_pseudo&quot;:&quot;no&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-da6f20b ob-has-background-overlay elementor-widget elementor-widget-image\" data-id=\"da6f20b\" data-element_type=\"widget\" data-settings=\"{&quot;_ob_photomorph_use&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;}\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"768\" height=\"768\" src=\"https:\/\/aerogroup.com.au\/wp-content\/uploads\/2024\/06\/Tax-Cuts-Article-768x768.jpg\" class=\"attachment-medium_large size-medium_large wp-image-6542\" alt=\"\" srcset=\"https:\/\/aerogroup.com.au\/wp-content\/uploads\/2024\/06\/Tax-Cuts-Article-768x768.jpg 768w, https:\/\/aerogroup.com.au\/wp-content\/uploads\/2024\/06\/Tax-Cuts-Article-300x300.jpg 300w, https:\/\/aerogroup.com.au\/wp-content\/uploads\/2024\/06\/Tax-Cuts-Article-1024x1024.jpg 1024w, https:\/\/aerogroup.com.au\/wp-content\/uploads\/2024\/06\/Tax-Cuts-Article-150x150.jpg 150w, https:\/\/aerogroup.com.au\/wp-content\/uploads\/2024\/06\/Tax-Cuts-Article-12x12.jpg 12w, https:\/\/aerogroup.com.au\/wp-content\/uploads\/2024\/06\/Tax-Cuts-Article.jpg 1080w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-80efd2b ob-harakiri-inherit ob-has-background-overlay elementor-widget elementor-widget-text-editor\" data-id=\"80efd2b\" data-element_type=\"widget\" data-settings=\"{&quot;_ob_use_harakiri&quot;:&quot;yes&quot;,&quot;_ob_harakiri_writing_mode&quot;:&quot;inherit&quot;,&quot;_ob_postman_use&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<h1><span style=\"font-size: 56px;\"><span style=\"font-family: Quicksand, sans-serif; color: #24bb8c; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">The Upcoming Tax Cuts: <\/span><span style=\"font-family: Quicksand, sans-serif; color: #434343; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">What You Need to Know<\/span><\/span><\/h1><p dir=\"ltr\" style=\"line-height: 1.38; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 11pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">24 June 2024<\/span><\/p><p><b style=\"font-weight: normal;\">\u00a0<\/b><\/p><p dir=\"ltr\" style=\"line-height: 1.38; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 15pt; font-family: Quicksand,sans-serif; color: #38c196; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Overview<\/span><\/p><ul style=\"margin-top: 0; margin-bottom: 0; padding-inline-start: 48px;\"><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 13pt; font-family: Calibri,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Australian individual taxpayers can expect reduced tax rates from 1 July 2024.<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 13pt; font-family: Calibri,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">The tax cuts will benefit those in the lower and middle income thresholds.<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 13pt; font-family: Calibri,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">From 1 July, those earning $26,000 or less will be exempt from paying the medicare levy.<\/span><\/p><\/li><\/ul><p><b style=\"font-weight: normal;\">\u00a0<\/b><\/p><h3 dir=\"ltr\" style=\"line-height: 1.38; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 15pt; font-family: Quicksand,sans-serif; color: #38c196; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">The Upcoming Tax Cuts<\/span><\/h3><p dir=\"ltr\" style=\"line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">From 1 July 2024, the Stage 3 tax cuts will come into effect, delivering tax relief for all Australian individual taxpayers. The cuts have been designed to ease the cost of living pressures faced everyday by most Australians. From the 1st of July, individuals will now pay less tax each payment period, meaning they will keep more of what they earn. On average, Australian taxpayers will receive a tax cut of $1,888.\u00a0<\/span><\/p><p><b style=\"font-weight: normal;\">\u00a0<\/b><\/p><p dir=\"ltr\" style=\"line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Not only will Australians be keeping more of what they earn, the tax cuts are expected to increase labour supply by 930,000 hours per week.\u00a0<\/span><\/p><p><b style=\"font-weight: normal;\">\u00a0<\/b><\/p><h3 dir=\"ltr\" style=\"line-height: 1.38; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 15pt; font-family: Quicksand,sans-serif; color: #38c196; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">What will the Changes Look Like?<\/span><\/h3><p dir=\"ltr\" style=\"line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">As illustrated in the table below, the tax cuts will reduce the tax rates for those within the thresholds of $18,201- $45,000 from 19% to 16% and $45,001 &#8211; $120,000 from 32.5% to 30%, while the higher income thresholds rate will not change. Another noteworthy fact is that the threshold in which the 45% rate applies has increased from $180,000 to $190,000.<\/span><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #000000; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">\u00a0<\/span><\/p><p>\u00a0<\/p><p>\u00a0<\/p><div dir=\"ltr\" style=\"margin-left: -12pt;\" align=\"left\"><table style=\"border: none; border-collapse: collapse;\"><colgroup> <col width=\"191\" \/> <col width=\"143\" \/> <col width=\"185\" \/> <col width=\"139\" \/><\/colgroup><tbody><tr style=\"height: 27pt;\"><td style=\"border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-bottom: solid #000000 1.5pt; border-top: solid #000000 1pt; vertical-align: top; background-color: #b6d7a8; padding: 5pt 5pt 5pt 5pt; overflow: hidden; overflow-wrap: break-word;\"><p dir=\"ltr\" style=\"line-height: 1.2; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Thresholds in 2023-24 ($)<\/span><\/p><\/td><td style=\"border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-bottom: solid #000000 1.5pt; border-top: solid #000000 1pt; vertical-align: top; background-color: #b6d7a8; padding: 5pt 5pt 5pt 5pt; overflow: hidden; overflow-wrap: break-word;\"><p dir=\"ltr\" style=\"line-height: 1.2; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Rates in 2023-24 (%)<\/span><\/p><\/td><td style=\"border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-bottom: solid #000000 1.5pt; border-top: solid #000000 1pt; vertical-align: top; background-color: #93c47d; padding: 5pt 5pt 5pt 5pt; overflow: hidden; overflow-wrap: break-word;\"><p dir=\"ltr\" style=\"line-height: 1.2; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Thresholds in 2024-25 ($)<\/span><\/p><\/td><td style=\"border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-bottom: solid #000000 1.5pt; border-top: solid #000000 1pt; vertical-align: top; background-color: #93c47d; padding: 5pt 5pt 5pt 5pt; overflow: hidden; overflow-wrap: break-word;\"><p dir=\"ltr\" style=\"line-height: 1.2; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #000000; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Rates in 2024-25 (%)<\/span><\/p><\/td><\/tr><tr style=\"height: 21pt;\"><td style=\"border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-bottom: solid #000000 1pt; border-top: solid #000000 1.5pt; vertical-align: top; padding: 5pt 5pt 5pt 5pt; overflow: hidden; overflow-wrap: break-word;\"><p dir=\"ltr\" style=\"line-height: 1.2; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">0 &#8211; 18,200<\/span><\/p><\/td><td style=\"border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-bottom: solid #000000 1pt; border-top: solid #000000 1.5pt; vertical-align: top; padding: 5pt 5pt 5pt 5pt; overflow: hidden; overflow-wrap: break-word;\"><p dir=\"ltr\" style=\"line-height: 1.2; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Nil<\/span><\/p><\/td><td style=\"border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-bottom: solid #000000 1pt; border-top: solid #000000 1.5pt; vertical-align: top; padding: 5pt 5pt 5pt 5pt; overflow: hidden; overflow-wrap: break-word;\"><p dir=\"ltr\" style=\"line-height: 1.2; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">0 &#8211; 18,200<\/span><\/p><\/td><td style=\"border-left: solid #000000 1pt; border-right: solid #000000 1pt; border-bottom: solid #000000 1pt; border-top: solid #000000 1.5pt; vertical-align: top; padding: 5pt 5pt 5pt 5pt; overflow: hidden; overflow-wrap: break-word;\"><p dir=\"ltr\" style=\"line-height: 1.2; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Nil<\/span><\/p><\/td><\/tr><tr style=\"height: 21.677734374999996pt;\"><td style=\"vertical-align: top; padding: 5pt 5pt 5pt 5pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 1pt;\"><p dir=\"ltr\" style=\"line-height: 1.2; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">18,201 &#8211; 45,000<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 5pt 5pt 5pt 5pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 1pt;\"><p dir=\"ltr\" style=\"line-height: 1.2; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">19<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 5pt 5pt 5pt 5pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 1pt;\"><p dir=\"ltr\" style=\"line-height: 1.2; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">18,201 &#8211; 45,000<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 5pt 5pt 5pt 5pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 1pt;\"><p dir=\"ltr\" style=\"line-height: 1.2; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">16<\/span><\/p><\/td><\/tr><tr style=\"height: 0pt;\"><td style=\"vertical-align: top; padding: 5pt 5pt 5pt 5pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 1pt;\"><p dir=\"ltr\" style=\"line-height: 1.2; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">45,001 &#8211; 120,000<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 5pt 5pt 5pt 5pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 1pt;\"><p dir=\"ltr\" style=\"line-height: 1.2; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">32.5<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 5pt 5pt 5pt 5pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 1pt;\"><p dir=\"ltr\" style=\"line-height: 1.2; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">45,001 &#8211; 135,000<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 5pt 5pt 5pt 5pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 1pt;\"><p dir=\"ltr\" style=\"line-height: 1.2; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">30<\/span><\/p><\/td><\/tr><tr style=\"height: 0pt;\"><td style=\"vertical-align: top; padding: 5pt 5pt 5pt 5pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 1pt;\"><p dir=\"ltr\" style=\"line-height: 1.2; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">120,001 &#8211; 180,000<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 5pt 5pt 5pt 5pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 1pt;\"><p dir=\"ltr\" style=\"line-height: 1.2; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">37<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 5pt 5pt 5pt 5pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 1pt;\"><p dir=\"ltr\" style=\"line-height: 1.2; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">135,001 &#8211; 190,000<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 5pt 5pt 5pt 5pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 1pt;\"><p dir=\"ltr\" style=\"line-height: 1.2; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">37<\/span><\/p><\/td><\/tr><tr style=\"height: 9.677734374999996pt;\"><td style=\"vertical-align: top; padding: 5pt 5pt 5pt 5pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 1pt;\"><p dir=\"ltr\" style=\"line-height: 1.2; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Over 180,000<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 5pt 5pt 5pt 5pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 1pt;\"><p dir=\"ltr\" style=\"line-height: 1.2; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">45<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 5pt 5pt 5pt 5pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 1pt;\"><p dir=\"ltr\" style=\"line-height: 1.2; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Over 190,000<\/span><\/p><\/td><td style=\"vertical-align: top; padding: 5pt 5pt 5pt 5pt; overflow: hidden; overflow-wrap: break-word; border: solid #000000 1pt;\"><p dir=\"ltr\" style=\"line-height: 1.2; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">45<\/span><\/p><\/td><\/tr><\/tbody><\/table><\/div><p><b style=\"font-weight: normal;\">\u00a0<\/b><\/p><h3 dir=\"ltr\" style=\"line-height: 1.38; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 15pt; font-family: Quicksand,sans-serif; color: #38c196; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Tax Cuts &#8211; Changes to the Medicare Levy<\/span><\/h3><p dir=\"ltr\" style=\"line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Alongside the tax rate cuts, there will also be an increase in the Medicare levy low-income threshold. The Medicare levy is currently 2% of your taxable income but is not payable for low-income earners. However, for the 2024-25 year, the threshold will exempt people earning $26,000 or less from paying the levy. After this, the levy will gradually increase and those earning more than $32,000 will pay the full 2% levy.\u00a0<\/span><\/p><p><b style=\"font-weight: normal;\">\u00a0<\/b><\/p><p dir=\"ltr\" style=\"line-height: 1.38; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 15pt; font-family: Quicksand,sans-serif; color: #38c196; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Example: Implementing the Tax Cuts<\/span><\/p><p dir=\"ltr\" style=\"line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">The table above summarises the tax cut major changes to each threshold, however, here is a more detailed understanding of how the tax cut changes will work for each tax paying individual.<\/span><\/p><p><b style=\"font-weight: normal;\">\u00a0<\/b><\/p><p dir=\"ltr\" style=\"line-height: 1.38; background-color: #ffffff; margin-top: 0pt; margin-bottom: 0pt; padding: 0pt 0pt 12pt 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #38c196; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">If you earn between $18,201 and $45,000:<\/span><\/p><ul style=\"margin-top: 0; margin-bottom: 0; padding-inline-start: 48px;\"><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.2; text-align: justify; background-color: #ffffff; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Your first $18,200 remains tax free, and<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.2; text-align: justify; background-color: #ffffff; margin-top: 0pt; margin-bottom: 0pt; padding: 0pt 0pt 12pt 0pt;\" role=\"presentation\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">You will pay 16 cents tax on every dollar you earn between $18,201 and $45,000.<\/span><\/p><\/li><\/ul><p dir=\"ltr\" style=\"line-height: 1.38; background-color: #ffffff; margin-top: 0pt; margin-bottom: 0pt; padding: 0pt 0pt 12pt 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #38c196; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">If you earn between $45,001 and $135,000:<\/span><\/p><ul style=\"margin-top: 0; margin-bottom: 0; padding-inline-start: 48px;\"><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.2; text-align: justify; background-color: #ffffff; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Your first $18,200 remains tax free, and<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.2; text-align: justify; background-color: #ffffff; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">You will pay 16 cents tax on every dollar you earn between $18,201 and $45,000, plus<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.2; text-align: justify; background-color: #ffffff; margin-top: 0pt; margin-bottom: 0pt; padding: 0pt 0pt 12pt 0pt;\" role=\"presentation\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">30 cents tax on every dollar you earn between $45,001 and $135,000.<\/span><\/p><\/li><\/ul><p dir=\"ltr\" style=\"line-height: 1.38; background-color: #ffffff; margin-top: 0pt; margin-bottom: 0pt; padding: 0pt 0pt 12pt 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #38c196; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">If you earn between $135,001 and $190,000:<\/span><\/p><ul style=\"margin-top: 0; margin-bottom: 0; padding-inline-start: 48px;\"><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.2; text-align: justify; background-color: #ffffff; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Your first $18,200 remains tax free, and<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.2; text-align: justify; background-color: #ffffff; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">You will pay 16 cents tax on every dollar you earn between $18,201 and $45,000, plus<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.2; text-align: justify; background-color: #ffffff; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">30 cents tax on every dollar you earn between $45,001 and $135,000, plus<\/span><\/p><\/li><\/ul><ul style=\"margin-top: 0; margin-bottom: 0; padding-inline-start: 48px;\"><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.38; background-color: #ffffff; margin-top: 0pt; margin-bottom: 0pt; padding: 0pt 0pt 12pt 0pt;\" role=\"presentation\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">37 cents tax on every dollar you earn between $135,001 and $190,000.<\/span><\/p><\/li><\/ul><p dir=\"ltr\" style=\"line-height: 1.38; background-color: #ffffff; margin-top: 0pt; margin-bottom: 0pt; padding: 0pt 0pt 12pt 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #38c196; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">If you earn over $190,000:<\/span><\/p><ul style=\"margin-top: 0; margin-bottom: 0; padding-inline-start: 48px;\"><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.2; text-align: justify; background-color: #ffffff; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Your first $18,200 remains tax free; and<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.2; text-align: justify; background-color: #ffffff; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">You will pay 16 cents tax on every dollar you earn between $18,201 and $45,000, plus<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.2; text-align: justify; background-color: #ffffff; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">30 cents tax on every dollar you earn between $45,001 and $135,000, plus<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.2; text-align: justify; background-color: #ffffff; margin-top: 0pt; margin-bottom: 0pt;\" role=\"presentation\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">37 cents tax on every dollar you earn between $135,001 and $190,000, plus<\/span><\/p><\/li><li dir=\"ltr\" style=\"list-style-type: disc; font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre; margin-left: -18pt;\" aria-level=\"1\"><p dir=\"ltr\" style=\"line-height: 1.2; text-align: justify; background-color: #ffffff; margin-top: 0pt; margin-bottom: 0pt; padding: 0pt 0pt 12pt 0pt;\" role=\"presentation\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">45 cents tax on every dollar you earn above the $190,000 threshold<\/span><\/p><\/li><\/ul><h3 dir=\"ltr\" style=\"line-height: 1.38; margin-top: 14pt; margin-bottom: 4pt;\"><span style=\"font-size: 15pt; font-family: Quicksand,sans-serif; color: #38c196; background-color: transparent; font-weight: bold; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Take Action\u00a0<\/span><\/h3><p dir=\"ltr\" style=\"line-height: 1.38; text-align: justify; margin-top: 0pt; margin-bottom: 0pt;\"><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Whether you are a low or high income earner, it\u2019s important to understand how these tax changes will impact you. Contact our experienced tax professionals at <\/span><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: bold; font-style: italic; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\">Aero Accounting Group today<\/span><span style=\"font-size: 13pt; font-family: Quicksand,sans-serif; color: #434343; background-color: transparent; font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;\"> to help you feel more informed approaching the new financial year. The tax cuts can be daunting, but our team is here to make it easier for you!<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-40e7aa8 ob-has-background-overlay elementor-widget elementor-widget-image\" data-id=\"40e7aa8\" data-element_type=\"widget\" data-settings=\"{&quot;_ob_photomorph_use&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;}\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1536\" height=\"768\" src=\"https:\/\/aerogroup.com.au\/wp-content\/uploads\/2023\/08\/Minimise-your-taxes-Maximise-your-profits-min.png\" class=\"attachment-1536x1536 size-1536x1536 wp-image-5566\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3cf03dc ob-harakiri-inherit ob-has-background-overlay elementor-widget elementor-widget-text-editor\" data-id=\"3cf03dc\" data-element_type=\"widget\" data-settings=\"{&quot;_ob_use_harakiri&quot;:&quot;yes&quot;,&quot;_ob_harakiri_writing_mode&quot;:&quot;inherit&quot;,&quot;_ob_postman_use&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-bcde89d ob-harakiri-inherit ob-has-background-overlay elementor-widget elementor-widget-heading ob-harakiri\" data-id=\"bcde89d\" data-element_type=\"widget\" data-settings=\"{&quot;_ob_use_harakiri&quot;:&quot;yes&quot;,&quot;_ob_harakiri_writing_mode&quot;:&quot;inherit&quot;,&quot;_ob_harakiri_text_clip&quot;:&quot;none&quot;,&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"heading.default\">\n<div class=\"elementor-widget-container\">\n<h4 class=\"elementor-heading-title elementor-size-default\"><strong><span style=\"color: #2c9199;\">Need help?<\/span><\/strong><\/h4>\n<\/div>\n<\/div>\n<div class=\"elementor-element elementor-element-7a4bee5 ob-harakiri-inherit ob-has-background-overlay elementor-widget elementor-widget-text-editor ob-harakiri\" data-id=\"7a4bee5\" data-element_type=\"widget\" data-settings=\"{&quot;_ob_use_harakiri&quot;:&quot;yes&quot;,&quot;_ob_harakiri_writing_mode&quot;:&quot;inherit&quot;,&quot;_ob_postman_use&quot;:&quot;no&quot;,&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"text-editor.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"elementor-text-editor elementor-clearfix\">\n<p>Not sure if your current accountant is a good long-term fit?<a href=\"https:\/\/aerogroup.com.au\/zh\/contact-2\/\">&nbsp;Contact us at Aero Accounting Group<\/a>&nbsp;today and we&#8217;ll help you minimise your taxes and maximise your profits<\/p>\n<\/div>\n<\/div>\n<\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-36a1048 ob-has-background-overlay elementor-widget elementor-widget-spacer\" data-id=\"36a1048\" data-element_type=\"widget\" data-settings=\"{&quot;_ob_spacerat_use&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;}\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>Curious about what the  upcoming tax cuts mean for you? Read on to see how they affect you for your upcoming financial year!<\/p>","protected":false},"author":2,"featured_media":6542,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41,38,39],"tags":[100,181,56,166,180],"class_list":["post-6541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aero-group","category-for-business","category-news","tag-aero-group","tag-ato-news","tag-tax","tag-tax-accountants","tag-tax-cuts"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.9 (Yoast SEO v22.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Upcoming Tax Cuts: What You Need to Know<\/title>\n<meta name=\"description\" content=\"Curious about what the upcoming tax cuts mean for you? Read on to see how they affect you for your upcoming financial year!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aerogroup.com.au\/zh\/the-upcoming-tax-cuts-what-you-need-to-know\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"The Upcoming Tax Cuts: What You Need to Know\" \/>\n<meta name=\"twitter:description\" content=\"Curious about what the upcoming tax cuts mean for you? Read on to see how they affect you for your upcoming financial year!\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/aerogroup.com.au\/wp-content\/uploads\/2024\/06\/Tax-Cuts-Article.jpg\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/aerogroup.com.au\/the-upcoming-tax-cuts-what-you-need-to-know\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/aerogroup.com.au\/the-upcoming-tax-cuts-what-you-need-to-know\/\"},\"author\":{\"name\":\"aerogroup\",\"@id\":\"https:\/\/aerogroup.com.au\/#\/schema\/person\/3f10f653c900839e1cde3e8df8e28e64\"},\"headline\":\"The Upcoming Tax Cuts: What You Need to Know\",\"datePublished\":\"2024-06-24T04:52:01+00:00\",\"dateModified\":\"2024-06-24T04:56:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/aerogroup.com.au\/the-upcoming-tax-cuts-what-you-need-to-know\/\"},\"wordCount\":593,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/aerogroup.com.au\/#organization\"},\"image\":{\"@id\":\"https:\/\/aerogroup.com.au\/the-upcoming-tax-cuts-what-you-need-to-know\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/aerogroup.com.au\/wp-content\/uploads\/2024\/06\/Tax-Cuts-Article.jpg\",\"keywords\":[\"aero group\",\"ato news\",\"tax\",\"tax accountants\",\"tax cuts\"],\"articleSection\":[\"Aero Group\",\"For Business\",\"News\"],\"inLanguage\":\"zh-CN\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/aerogroup.com.au\/the-upcoming-tax-cuts-what-you-need-to-know\/\",\"url\":\"https:\/\/aerogroup.com.au\/the-upcoming-tax-cuts-what-you-need-to-know\/\",\"name\":\"The Upcoming Tax Cuts: What You Need to Know\",\"isPartOf\":{\"@id\":\"https:\/\/aerogroup.com.au\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/aerogroup.com.au\/the-upcoming-tax-cuts-what-you-need-to-know\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/aerogroup.com.au\/the-upcoming-tax-cuts-what-you-need-to-know\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/aerogroup.com.au\/wp-content\/uploads\/2024\/06\/Tax-Cuts-Article.jpg\",\"datePublished\":\"2024-06-24T04:52:01+00:00\",\"dateModified\":\"2024-06-24T04:56:27+00:00\",\"description\":\"Curious about what the upcoming tax cuts mean for you? Read on to see how they affect you for your upcoming financial year!\",\"breadcrumb\":{\"@id\":\"https:\/\/aerogroup.com.au\/the-upcoming-tax-cuts-what-you-need-to-know\/#breadcrumb\"},\"inLanguage\":\"zh-CN\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/aerogroup.com.au\/the-upcoming-tax-cuts-what-you-need-to-know\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"zh-CN\",\"@id\":\"https:\/\/aerogroup.com.au\/the-upcoming-tax-cuts-what-you-need-to-know\/#primaryimage\",\"url\":\"https:\/\/aerogroup.com.au\/wp-content\/uploads\/2024\/06\/Tax-Cuts-Article.jpg\",\"contentUrl\":\"https:\/\/aerogroup.com.au\/wp-content\/uploads\/2024\/06\/Tax-Cuts-Article.jpg\",\"width\":1080,\"height\":1080},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/aerogroup.com.au\/the-upcoming-tax-cuts-what-you-need-to-know\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/aerogroup.com.au\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The Upcoming Tax Cuts: What You Need to Know\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/aerogroup.com.au\/#website\",\"url\":\"https:\/\/aerogroup.com.au\/\",\"name\":\"Aero Accounting Group\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/aerogroup.com.au\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/aerogroup.com.au\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"zh-CN\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/aerogroup.com.au\/#organization\",\"name\":\"Aero Accounting Group\",\"url\":\"https:\/\/aerogroup.com.au\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"zh-CN\",\"@id\":\"https:\/\/aerogroup.com.au\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/aerogroup.com.au\/wp-content\/uploads\/2021\/01\/cropped-J005086-Aero-Group-Branding-Logo-inline-Main.png\",\"contentUrl\":\"https:\/\/aerogroup.com.au\/wp-content\/uploads\/2021\/01\/cropped-J005086-Aero-Group-Branding-Logo-inline-Main.png\",\"width\":512,\"height\":512,\"caption\":\"Aero Accounting Group\"},\"image\":{\"@id\":\"https:\/\/aerogroup.com.au\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/aerogroupaustralia\",\"https:\/\/www.linkedin.com\/company\/aero-group-australia\/\",\"https:\/\/www.instagram.com\/aerogroupaustralia\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/aerogroup.com.au\/#\/schema\/person\/3f10f653c900839e1cde3e8df8e28e64\",\"name\":\"aerogroup\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"zh-CN\",\"@id\":\"https:\/\/aerogroup.com.au\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ea16f5c1fe25baec2dda367368f65911b5196f843357adb17263efa3d918a042?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/ea16f5c1fe25baec2dda367368f65911b5196f843357adb17263efa3d918a042?s=96&d=mm&r=g\",\"caption\":\"aerogroup\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"The Upcoming Tax Cuts: What You Need to Know","description":"Curious about what the upcoming tax cuts mean for you? Read on to see how they affect you for your upcoming financial year!","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/aerogroup.com.au\/zh\/the-upcoming-tax-cuts-what-you-need-to-know\/","twitter_card":"summary_large_image","twitter_title":"The Upcoming Tax Cuts: What You Need to Know","twitter_description":"Curious about what the upcoming tax cuts mean for you? Read on to see how they affect you for your upcoming financial year!","twitter_image":"https:\/\/aerogroup.com.au\/wp-content\/uploads\/2024\/06\/Tax-Cuts-Article.jpg","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/aerogroup.com.au\/the-upcoming-tax-cuts-what-you-need-to-know\/#article","isPartOf":{"@id":"https:\/\/aerogroup.com.au\/the-upcoming-tax-cuts-what-you-need-to-know\/"},"author":{"name":"aerogroup","@id":"https:\/\/aerogroup.com.au\/#\/schema\/person\/3f10f653c900839e1cde3e8df8e28e64"},"headline":"The Upcoming Tax Cuts: What You Need to Know","datePublished":"2024-06-24T04:52:01+00:00","dateModified":"2024-06-24T04:56:27+00:00","mainEntityOfPage":{"@id":"https:\/\/aerogroup.com.au\/the-upcoming-tax-cuts-what-you-need-to-know\/"},"wordCount":593,"commentCount":0,"publisher":{"@id":"https:\/\/aerogroup.com.au\/#organization"},"image":{"@id":"https:\/\/aerogroup.com.au\/the-upcoming-tax-cuts-what-you-need-to-know\/#primaryimage"},"thumbnailUrl":"https:\/\/aerogroup.com.au\/wp-content\/uploads\/2024\/06\/Tax-Cuts-Article.jpg","keywords":["aero group","ato news","tax","tax accountants","tax cuts"],"articleSection":["Aero Group","For Business","News"],"inLanguage":"zh-CN"},{"@type":"WebPage","@id":"https:\/\/aerogroup.com.au\/the-upcoming-tax-cuts-what-you-need-to-know\/","url":"https:\/\/aerogroup.com.au\/the-upcoming-tax-cuts-what-you-need-to-know\/","name":"The Upcoming Tax Cuts: What You Need to Know","isPartOf":{"@id":"https:\/\/aerogroup.com.au\/#website"},"primaryImageOfPage":{"@id":"https:\/\/aerogroup.com.au\/the-upcoming-tax-cuts-what-you-need-to-know\/#primaryimage"},"image":{"@id":"https:\/\/aerogroup.com.au\/the-upcoming-tax-cuts-what-you-need-to-know\/#primaryimage"},"thumbnailUrl":"https:\/\/aerogroup.com.au\/wp-content\/uploads\/2024\/06\/Tax-Cuts-Article.jpg","datePublished":"2024-06-24T04:52:01+00:00","dateModified":"2024-06-24T04:56:27+00:00","description":"Curious about what the upcoming tax cuts mean for you? Read on to see how they affect you for your upcoming financial year!","breadcrumb":{"@id":"https:\/\/aerogroup.com.au\/the-upcoming-tax-cuts-what-you-need-to-know\/#breadcrumb"},"inLanguage":"zh-CN","potentialAction":[{"@type":"ReadAction","target":["https:\/\/aerogroup.com.au\/the-upcoming-tax-cuts-what-you-need-to-know\/"]}]},{"@type":"ImageObject","inLanguage":"zh-CN","@id":"https:\/\/aerogroup.com.au\/the-upcoming-tax-cuts-what-you-need-to-know\/#primaryimage","url":"https:\/\/aerogroup.com.au\/wp-content\/uploads\/2024\/06\/Tax-Cuts-Article.jpg","contentUrl":"https:\/\/aerogroup.com.au\/wp-content\/uploads\/2024\/06\/Tax-Cuts-Article.jpg","width":1080,"height":1080},{"@type":"BreadcrumbList","@id":"https:\/\/aerogroup.com.au\/the-upcoming-tax-cuts-what-you-need-to-know\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/aerogroup.com.au\/"},{"@type":"ListItem","position":2,"name":"The Upcoming Tax Cuts: What You Need to Know"}]},{"@type":"WebSite","@id":"https:\/\/aerogroup.com.au\/#website","url":"https:\/\/aerogroup.com.au\/","name":"Aero Accounting Group","description":"","publisher":{"@id":"https:\/\/aerogroup.com.au\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/aerogroup.com.au\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"zh-CN"},{"@type":"Organization","@id":"https:\/\/aerogroup.com.au\/#organization","name":"Aero Accounting Group","url":"https:\/\/aerogroup.com.au\/","logo":{"@type":"ImageObject","inLanguage":"zh-CN","@id":"https:\/\/aerogroup.com.au\/#\/schema\/logo\/image\/","url":"https:\/\/aerogroup.com.au\/wp-content\/uploads\/2021\/01\/cropped-J005086-Aero-Group-Branding-Logo-inline-Main.png","contentUrl":"https:\/\/aerogroup.com.au\/wp-content\/uploads\/2021\/01\/cropped-J005086-Aero-Group-Branding-Logo-inline-Main.png","width":512,"height":512,"caption":"Aero Accounting Group"},"image":{"@id":"https:\/\/aerogroup.com.au\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/aerogroupaustralia","https:\/\/www.linkedin.com\/company\/aero-group-australia\/","https:\/\/www.instagram.com\/aerogroupaustralia\/"]},{"@type":"Person","@id":"https:\/\/aerogroup.com.au\/#\/schema\/person\/3f10f653c900839e1cde3e8df8e28e64","name":"aerogroup","image":{"@type":"ImageObject","inLanguage":"zh-CN","@id":"https:\/\/aerogroup.com.au\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/ea16f5c1fe25baec2dda367368f65911b5196f843357adb17263efa3d918a042?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ea16f5c1fe25baec2dda367368f65911b5196f843357adb17263efa3d918a042?s=96&d=mm&r=g","caption":"aerogroup"}}]}},"_links":{"self":[{"href":"https:\/\/aerogroup.com.au\/zh\/wp-json\/wp\/v2\/posts\/6541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aerogroup.com.au\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aerogroup.com.au\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aerogroup.com.au\/zh\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/aerogroup.com.au\/zh\/wp-json\/wp\/v2\/comments?post=6541"}],"version-history":[{"count":10,"href":"https:\/\/aerogroup.com.au\/zh\/wp-json\/wp\/v2\/posts\/6541\/revisions"}],"predecessor-version":[{"id":6552,"href":"https:\/\/aerogroup.com.au\/zh\/wp-json\/wp\/v2\/posts\/6541\/revisions\/6552"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/aerogroup.com.au\/zh\/wp-json\/wp\/v2\/media\/6542"}],"wp:attachment":[{"href":"https:\/\/aerogroup.com.au\/zh\/wp-json\/wp\/v2\/media?parent=6541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aerogroup.com.au\/zh\/wp-json\/wp\/v2\/categories?post=6541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aerogroup.com.au\/zh\/wp-json\/wp\/v2\/tags?post=6541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}