Other tax credits and FamilyBoost
Comparable to the extension of the personal income tax rate thresholds is the change to the independent earner tax credit (IETC). It’s currently available for people earning between $24,000 and $48,000/year (providing a tax credit of up to $20 per fortnight). From 31 July 2024, the upper income limit will be extended from $48,000 to […]
Budget 2023 – Households
Most Budget 2023 changes affecting household budgets centre on younger families. The 20-hours free early childhood education (ECE) currently available to 3-5-year-olds is extended to include 2-year-olds, with more money for teachers and childcare centres as well. This may free up some parents for greater workforce participation and ease household budgets. But as interest rates […]
