The Treasurer handed down the 2024-25 Federal Budget on Tuesday i.e., May 14, 2024 Amendments to the stage 3 tax cuts that were made by the Treasury Laws Amendment (Cost of Living Tax Cuts) Act 2024, will apply to the 2024-25 income year resulting in updates to tax tables and withholding schedules, also Amendment to study and training support loans schedule due to the annual indexing of the repayment income thresholds. These new rates will apply from 1 July 2024
The Position Statement has been revised to include more details about these legislative updates and the patch availability. We encourage our customers to review the position statement regularly to stay updated. The Position Statement can be found on My Oracle Support, Doc ID 2973834.1.