How much were taxes dropped by in the 2006 federal budget?

Answer 1

Hi There,

If you are referring to Income tax, then for Australian residents:

Top tax rate used to be 47% + 1.5% medicare (so 48.5%) on anything over $90,000.

This year it has come down to 45% + 1.5% medicare (so 46%) on anything over $150,000.

The full table of the income taxes and a couple of calculators can be found at the ATO site: http://www.ato.gov.au/individuals/content.asp?doc=/content/12333.htm

Hope that helps.