Today's tax breakdown ahead of Federal Budget

The countdown is on with the Federal Budget just four weeks away, set to trigger big changes to your tax.

And Today will be looking at the big announcements in the lead-up with a new Budget Breakdown segment.

In this week's episode, Nine finance editor, Effie Zahos discussed income tax and simplified what draft legislation for the $1000 tax deduction means for everyday Aussie families.

Watch what Effie has to say in the video above