The personal income tax rate changes from 1 October 2010 are:
Up to $14K – tax rate goes from 12.5% to 10.5%
$14K to $48K – tax rate goes from 21.0% to 17.5%
$48K to $70K – tax rate goes from 33.0% to 30.0%
$70K+ – tax rate goes from 38.0% to 33.0%
GST will rise to 15% and company tax will drop to 28%.