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Media release Nat - 2005/44
Employers were today reminded to apply the new personal income tax rates to all payments they make to their employees from 1 July 2005.
Tax Commissioner Michael Carmody said these new rates have been introduced following changes announced in the May federal budget.
"The new rates apply to all payments made on or after 1 July even if some of the payment relates to work performed before this date."
To assist employers to apply the new rates the Tax Office has mailed the new weekly and fortnightly income tax tables to all employers. These tables are also available from most newsagents.
"To further assist employers the Tax Office will have an updated version of the Tax Withheld Calculator available from 1 July, incorporating the new personal income tax rates," Mr Carmody said.
The tool enables employers to quickly work out how much tax to withhold from their employees. To access the tool go to www.ato.gov.au and type 'TWC' in the search box.
Employers can download tax tables here or they can have a copy sent to them by phoning the Tax Office on 13 28 66 between 8.00am and 6.00pm, Monday to Friday.
30 June 2005
Last Modified: Wednesday, 6 July 2005