The tax free threshold from 1st July 2012 has increased from $6,000 to $18,200 and there will be no change to the tax rates for the 2013/14.

In effect with this does mean with the low income offset available that an individual can earn upto $20,542 without paying tax for this year.

The amount of tax you pay does depend on your filing status, age or whether you claim dependants so always check with our office if you are unsure.