AusFinance

What are the new stage 3 tax cut brackets?

Here's how the proposed plan looks at a glance:

• Earn up to $18,200 – pay no tax

• Pay a 16 per cent tax rate on each dollar earned between $18,201-$45,000

• Pay a 30 per cent tax rate on each dollar earned between $45,001-$135,000

• Pay a 37 per cent tax rate on each dollar earned between $135,001 — $190,000

• Pay a 45 per cent tax rate on each dollar earned above $190,000

What were they going to be?

Here's what the previous plan looked like at a glance:

• Earn up to $18,200 – pay no tax

• Pay a 19 per cent tax rate on each dollar earned between $18,201-$45,000

• Pay a 30 per cent tax rate on each dollar earned between $45,001-$200,000

• Pay a 45 per cent tax rate on each dollar earned above $200,000