Income Tax, Deductions and Tax Breaks Explained

1 min read | July 01, 2026 08:30 AM AEST | By Team Kalkine Media

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Understanding how tax works in Australia can help individuals and businesses Make Better Financial Decisions. The Australian tax system is based on a progressive tax structure, meaning the more you earn, the more tax you pay — but only on the portion of income that falls into each tax bracket. You do not pay the higher tax rate on your entire salary. The Australian Taxation Office, or ATO, collects tax through the PAYG Withholding System, where employers take tax from your wages Throughout The Year. At the end of the financial year, you complete a tax return to compare how much tax you paid with how much you actually owe.

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