Senior Australians will also benefit from the changes to tax rates. From 1 July 2006, senior Australians who receive the Senior Australians Tax Offset will be able to earn more income without paying tax. Singles will be able to have taxable income up to $24,867 (up from $21,968) and couples up to $41,360 (up from $36,494). The Medicare levy thresholds that apply to senior Australians will also be increased to ensure that they do not pay the Medicare levy until they begin to incur an income tax liability.
For a copy of the Treasurer's press release No 43, 9 May 2006, go here