Gift Tax Rates 2024 Australia. Instead, a gift is taxed only after you exceed your lifetime estate and gift exemption, which in 2024 is $13.61 million for individuals and $27.22 million for married couples. Tax offsets (sometimes referred to as rebates) directly reduce the amount of tax payable on your taxable income.
We produce a range of tax tables to help you work out how much to withhold from payments you make to your employees or other payees. The financial year for tax purposes for individuals starts on 1st july and ends on 30 june of the.