Updates to personal income tax thresholds

As the changes to the personal income tax thresholds announced by the Government during the Federal Budget are now effective, you may notice an increase to your net pension amount from the pay period ending 11 November.  Any entitlement to the reduced tax payable for the period from July to October 2020 will be received when your income tax return for 2021 is lodged, there is no ‘back pay’ for this as per the legislation.  For further details, please see https://www.ato.gov.au/rates/tax-tables/#Importantinformationforthisyear

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