On Tuesday, 9 May 2023, Treasurer Jim Chalmers handed down the 2023-24 Federal Budget. As with all Budgets, these are announcements only and have not been legislated. The details are still to be worked through, and both Houses of Parliament need to pass legislation before the announcements take effect. 1. PERSONAL TAXATION MEASURES Medicare levy low-income thresholds Effective from 1 July 2022, the Medicare levy low-income thresholds will increase for singles, families, seniors and pensioners to take into account recent movements in the CPI. The new thresholds are listed below: