Earlier this year, the government announced changes to individual tax rates for the 2016-2017 income year.

As a result, a number of tax tables have been updated with varied rates to apply from 1 October 2016. The varied rate is an expansion of the 32.5 per cent band from $80,000 to $87,000.

This adjusted tax rate may result in a small increase of between $1 and $12 to your fortnightly net pay for the remainder of the income year. Please note no tax adjustments will be made for the portion of the year which has already passed; individuals affected will receive the full benefit of the tax changes upon assessment of their income tax return for the 2016-2017 income year.

Contact your Payroll Advisor if you have questions.