What Are The Income Tax Brackets For 2024/24

What Are The Income Tax Brackets For 2024/24. If you live in scotland, there are six income tax bands and thresholds; Income tax offsets helps lower income earners who are australian residents reduce their tax bill.

You pay income tax at the rates applicable to the parts of your earnings that fall within. If you’re a basic rate taxpayer, you pay income tax at a rate of 20%.