Australian tax explained — income tax brackets, Medicare levy, ATO rules and what you actually pay.
One tax rate is changing when the new financial year starts. From 1 July 2026, the marginal rate on income between $18,201 and $45,000 drops from 16% to 15%. Every other bracket stays exactly where it is. That single change is worth up to $268 per year for most working Australians — and it applies…
More than 3 million Australians carry a HECS-HELP debt, with a combined balance exceeding $78 billion. In 2025-26, the system went through the biggest set of changes in a generation — a 20 per cent debt cut, a new repayment threshold, and a new way of calculating compulsory repayments. Here is a plain-English guide to…
This article is for general informational purposes only and does not constitute tax advice. Tax rates and thresholds are set by the Australian Taxation Office and may change. Always verify current figures at ato.gov.au and consult a registered tax agent for advice specific to your circumstances. Australia’s tax rates for the 2025-26 financial year —…