Income Tax calculations have been amended. The changes will reflect in Digital advice SoAs and RoAs.
- Australian Resident Tax Rates
The Australian resident tax rates for the financial year 2020-24 have been amended and are as follows:
- LITO offset has been upgraded as per the Australian Income Tax Brackets.
- Allocated amounts for jointly owned inflow and outflow entries have been divided equally (50:50).
- The templates layout has been upgraded. New Layout is given below: