The $18,200 Tax Threshold

As of 1 July 2012, the new tax threshold is $18,200.

What may this mean for you?

If you receive income from more than one source and are certain that you will earn less than $18,200 in total income for the financial year, you can now claim the tax-free threshold from all of your employers and other withholding payers.

To claim the tax-free threshold you simply will need to complete a Withholding declaration and provide it to your employer or other payer.