Ato Tax Brackets 2024/25.  — approximately 5.8 million individual 2024 tax returns have been lodged since 1 july 2024, which is an increase of around 1% compared with the same time last year. From 1 july 2024, the tax.

That means your income is taxed in brackets and not at the marginal tax rate. This amount is the tax on taxable income before you take into account tax offsets.