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Media release - Nat 2006/21
The Tax Office today reminded employers to apply the new personal income tax rates to all payments they make to their employees from 1 July 2006.
The new rates have been introduced following changes to tax rates and income tax thresholds announced in the May federal budget.
Deputy Commissioner Erin Holland said the Tax Office has mailed the new weekly and fortnightly income tax tables to all employers in the last fortnight.
"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."
These new weekly and fortnightly tax tables are also available from most newsagents.
To further assist employers the Tax Office has an online tool, the Tax Withheld Calculator, which 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.
All tax tables can be downloaded from the website at www.ato.gov.au. Employers can order copies of the tax tables by phoning the Tax Office on 13 72 26.
30 June 2006
Last Modified: Friday, 30 June 2006