2007-02-01 14:57:56 · 4 answers · asked by Lou 2 in Business & Finance ➔ Taxes ➔ Australia
I agree that way tooooo much!
For Australian residents:
Top tax rate used to be 47% + 1.5% medicare (so 48.5%) on anything over $90,000.
This year it has come down to 45% + 1.5% medicare (so 46%) on anything over $150,000.
The current tax rates can be found at the Australian Tax Office site (ATO) : http://www.ato.gov.au/individuals/content.asp?doc=/content/12333.htm
This page also has a couple of links to calculators so you can enter a salary to see how much you pay.
Also slightly different rules for non-residents.
2007-02-01 15:16:40 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Australian tax sytem works on the basis of those most able to contribute to society inrastructure and social needs, do so pay by paying more consequently Aus has a series of of tax rates (brackets) where the tax rate gets higher with each level of higher income. Matt has included the ATO website- you should be able to find all of the relevant info there.
2007-02-03 11:03:30 · answer #2 · answered by magpiez 5 · 0⤊ 0⤋
We pay 10% GST on most goods & services. The first $6,000 of income is tax free and the following percentages are taken out of our income dependent on what bracket you fall into:
Income Bracket Percentage of tax taken out
0-6,000 Nil
6001-21,600 Nil + 15%
21,601-63,000 30%
63,001-95,000 45%
95,000 plus 47%
2007-02-05 14:32:58 · answer #3 · answered by Stoosha 2 · 0⤊ 0⤋
Australian Tax Bracket
2016-10-04 04:36:24 · answer #4 · answered by ? 4 · 0⤊ 0⤋
Way too much
2007-02-01 15:02:17 · answer #5 · answered by Pauline 5 · 0⤊ 0⤋