FYI: Tax rates going up

[cheap]

Lost in the fanfare from Carbon Sunday is that effective tax rates will be increased (now there is a surprise - Not).

Yes the tax free threshold has increased from $6,000 to $18,000

BUT

From 18,001 to 37,000 the marginal rate has increased from 15% to 19%
From 37,001 to 80,000 the marginal rate has increased from 30% to 32.5%

Bottom line about a $35 increase in tax (assuming you earn over $80,000 pa)

I thought I heard someone said "only the top 500 big polluters that were going to pay..."