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Tax cut calculator

Tax cuts are here for every Australian taxpayer.
You can estimate your tax cut with the calculator*.

For most taxpayers, your tax cut will be reflected in your take-home pay, each payday.
Some taxpayers will receive their tax cut when a tax return is lodged and processed after the end of the 2024–25 financial year.

Estimate your tax cut

Note: Individuals with a taxable income below $22,575 will not pay income tax, due to the $18,200 tax-free threshold and the low income tax offset.

Comparison

2023–24 settings

Annual reduction in tax   andEstimated annual tax liability
 

Under new tax cuts

Annual reduction in tax   andEstimated annual tax liability
 

*Disclaimer

  • This tool provides stylised representations based on the taxable income of an individual. The total amount calculated is your annual tax cut.
  • 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 estimates in this tool are based on comparing 2023‑24 tax rates and thresholds with 2024‑25 tax rates and thresholds.
  • The reduction in tax liability is calculated by only taking into account the basic tax scales, low-income tax offset (as applicable), and the Medicare levy for the respective income year.
  • This tool is for illustrative purposes only.
  • It does not consider individual circumstances which may result in an actual tax outcome that is different to what is presented above.
  • 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).