Aussies score big on tax cuts

The Aussies have scored big yesterday with Peter Costellos latest budget.

He has delivered $35 billion worth of tax cuts. This is the fourth successive year that tax cuts have been delivered.

The essentials are;

  • No tax until annual income hits A$11,000.
  • Thirty per cent tax threshold lifted from A$25,001 to A$30,001.
  • Forty per cent threshold rises from A$75,001 to A$80,001.
  • Forty-five per cent threshold moves from A$150,001 to A$180,001.

This represents a huge point of difference now between New Zealand and Australia that will see the current exodus to Australia increase dramatically.