Reduced income tax in 2018

Today the 2018 Budget is being presented. So far regarding the Resident stepped tax system, the following reductions in percentage have been announced:

Tax Bracket 20,001 - 35,000 reduction to 3% from current 5%
Tax Bracket 35,001 - 50,000 reduction to 8% from current 10%
Tax Bracket 50,001 - 70,000 reduction to 14% from current 16%

Are those monthly are annual amounts?

This is really great to hear, thanks Gravitas. :-)

Income tax liability is worked out on annual salary (then deducted monthly i.e. divided by 12).

Thanks very much, doesn't help me any then. OTH I may retire before the end of next year anyway. Working is overrated :)

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