The threshold will be further increased to $19,400 by 2015-16. ©iStockphoto/Alonzo Adams
Money
Tax-free threshold tripled
THE Federal Government yesterday released its plan to increase the tax- free threshold from $6,000 to $18,200 for the 2012-13 financial year.
The tax cuts come off the back of the Government's $8 billion tax reform package to be delivered over the next three years.
Most income earners up to $80,000 will receive at least $300 in tax cuts and part time workers will receive up to $600.
The threshold will be further increased to $19,400 by 2015-16.
