As part of government reform, the 2021 upper limits to marginal income brackets for individuals have increased as follows:
- 19 per cent tax band increasing from $37,000 in 2020 to $45,000.
- 32.5 per cent tax band increasing from $90,000 in 2020 to $120,000.
Source: https://www.ato.gov.au/rates/individual-income-tax-rates/