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04 Jul 07 New personal income thresholds to apply from 1 July 2007

In a media release issued on 29 June 2007, the ATO reminded employers to apply the new personal income thresholds to all payments they make to their employees from 1 July 2007. The new rates have been introduced following changes to the income tax thresholds announced in the May Federal Budget. Employers should also be aware that changes to superannuation from 1 July means there are also three new withholding schedules (tax tables) for payments made to superannuation funds.

For a copy of the ATO media release, 29 June 2007, go here

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