Personal Income Tax thresholds changes 2024
From 31 July 2024 the Personal Income Tax thresholds will be adjusted. This will change the Student Allowance after-tax rate and income threshold.
Student Allowance after-tax rates
From 31 July 2024 some Student Allowance after-tax rates will increase by up to $2.16 a week. This will happen automatically for all payments made on or after 31 July – you don't need to do anything.
How much Student Allowance you get depends on your situation. If you're on a special tax code, the impact may be different.
These are the rates from 31 July 2024:
If you're single
|
Category |
Net weekly allowance (after tax at 'M') before 31 July 2024 |
Net weekly allowance (after tax at 'M') from 31 July 2024 |
Gross weekly allowance |
|---|---|---|---|
|
Single student without dependent children |
|||
|
Under 24 years, at home - up to |
$269.52 |
$271.68 |
$303.85 |
|
Under 24 years, away from home - up to |
$314.15 |
$316.30 |
$357.94 |
|
Independent circumstances |
$314.15 |
$316.30 |
$357.94 |
|
24 years or over, at home |
$305.22 |
$307.37 |
$347.12 |
|
24 years or over, away from home |
$358.78 |
$360.93 |
$412.04 |
|
Single student with dependent children |
|||
|
Single student with 1 or more children |
$506.35 |
$508.50 |
$590.91 |
If you have a partner
|
Category |
Net weekly allowance (after tax at 'M') before 31 July 2024 |
Net weekly allowance (after tax at 'M') from 31 July 2024 |
Gross weekly allowance |
|---|---|---|---|
|
Student with earning partner |
|||
|
Student with earning partner, at home, without children |
$187.77 |
$187.77 (no change) |
$209.80 |
|
Student with earning partner, away from home, without children |
$235.12 |
$235.12 (no change) |
$262.70 |
|
Student with earning partner, partner not receiving, at home, with children |
$219.63 |
$219.63 (no change) |
$245.40 |
|
Student with earning partner, partner not receiving, away from home, with children |
$266.99 |
$269.14 |
$300.78 |
|
Student with earning partner, partner receiving, at home, with children (each) |
$203.72 |
$203.72 (no change) |
$227.62 |
|
Student with earning partner, partner receiving, away from home, with children (each) |
$251.05 |
$251.05 (no change) |
$281.46 |
|
Couple without dependent children |
|||
|
One student, one dependent partner |
$628.28 |
$630.44 |
$738.71 |
|
Both eligible students (each) |
$314.15 |
$316.30 |
$357.94 |
|
Both students, one eligible |
$358.78 |
$360.93 |
$412.04 |
|
Couple with dependent children |
|||
|
Both students, one eligible, with 1 or more children |
$506.35 |
$508.50 |
$590.91 |
|
Both students, both eligible, partner receiving, with 1 or more children (each) |
$330.08 |
$332.23 |
$377.25 |
|
Both students, both eligible, partner not receiving, with 1 or more children |
$345.99 |
$348.15 |
$396.54 |
|
One student, one dependent partner, with 1 or more children |
$660.14 |
$662.30 |
$777.33 |
Parents' income thresholds
If you're under 24 with no children and have a relationship with 1 or both of your parents, your Student Allowance will be based on their income.
From 31 July 2024 the parental income thresholds will change.
|
If you are: |
Your parents' joint income must be less than (before 31 July 2024): |
Your parents' joint income must be less than (from 31 July 2024): |
|---|---|---|
|
Living with your parents |
$124,474.45 |
$124,922.46 |
|
Not living with your parents |
$133,756.29 |
$134,204.31 |