On 21 June 2018, The Australian parliament passed the Treasury Laws Amendment (Personal Income Tax Plan) Act 2018, which received Royal Assent the same day. The legislation provides for the individual income tax measures included as part of the Budget 2018-19.
Income Tax Offset
A low and middle income tax offset is introduced for Australian resident individuals (and certain trustees) with relevant income that does not exceed AUD 125,333 for the 2018-19, 2019-20, 2020-21 25, and 2021-22 i…