The Tax Office is reminding employers to use new personal income tax threshold rates from 1 July 2009.
The new rates have been introduced following changes to the income tax thresholds announced in last year’s Federal Budget.
Tax Commissioner Michael D’Ascenzo said the new weekly and fortnightly tax tables were sent to employers in June.
“These new rates should be applied to payments made on or after 1 July even if some of the payment relates to work performed before this date,” Mr D’Ascenzo said.
The Tax Office’s tax withheld calculator helps employers quickly work out how much tax to withhold from their employees. It can be downloaded from the Tax Office website at www.ato.gov.au
If businesses need assistance in determining how much tax to withhold in relation to their employees, they can get help by calling Taxwise on 9248 8124.
About the Author
Warren Kruger is an Australian Tax Specialist and Advisor.
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Warren Kruger is an Australian Tax Specialist and Advisor. For a FREE Report “7 Essential Strategies to Reduce Your Taxation NOW!”,enter your name and email address in the Opt In Box located on the top right hand side of this article.
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