Tax Rates 2024 Ato Tax Rates. From july 1 2024, the 37 per cent marginal tax rate was to be abolished for those earning more than $120,000 a year, and the 32.5 per cent tax rate was to be reduced to 30 per cent for. The australian tax office (ato) collects income tax from working australians each financial year.

Payee or industry specific tax tables. To learn more about the nature of the tax cuts and the preceding history go here.