News Room - Individual

  • VKC Tax News - September 2016     Article

  • VKC Tax News - Budget Edition 2016-2017     Article
  • Picking up from the Business Newsroom article, the budget measures affecting individuals are as follows:

    -From 1 July 2017, the 37% marginal tax rate (MRT) will apply to the taxable income of individuals from $87,000 (currently the 37% MRT applies to taxable income from $80,000

    -From the 2015-2016 year the low-income thresholds for both the Medicare levy and the Medicare levy surcharge will increase For further details please do not hesitate to contact one of our tax practitioners at VKC Consulting Chartered Accountants.