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Previously announced tax cuts in 2027 and 2028

  • May 13
  • 1 min read

The Budget referenced the Government’s previously announced tax cuts (which have already been legislated), as follows:

• The (current) 16% tax rate will be reduced to 15% from 1 July 2026.

• The 15% tax rate will be further reduced to 14% from 1 July 2027.

For reference, the personal income tax rates for the 2026 income year are set out in the following table, along with the tax rates for the 2027 and 2028 income years:




 
 
 

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