Personal Tax Cuts Coming in 2026

The Government has announced personal income tax cuts that will kick in from 1 July 2026, giving low and middle-income earners a bit more back in their pocket.

Here’s what’s happening:

• The tax rate on income between $18,201 and $45,000 will go from 16% to 15% in 2026–27
• Then it drops again to 14% from 2027–28
• That’s a saving of up to $268 in the first year and up to $536 in the second

While these changes are now law, they may still be affected by the upcoming Federal election.

Wondering how these changes might impact your future tax position or how to plan ahead? Chat to us about tax planning – call 1800 618 800 or email admin@simmonslivingstone.com.au.