Take home pay after deductions???

[kate b]

hi
Does annyone know how to work out take home pay after all the deuctions and everything? im a nurse who will be earning basic $1900 a fortnight so what exactly will be deducted as im getting very confused!! i will hopefully benefiting from the hospital salary sacrificing sscheme of $500 a week for rent and car and loan so hopefully be paying tax on $ 400 a week, any advice would be very grateful of!! kate

[RCoight]

Have a look here:
Rates, calculators & tools
There are some tax calculators which will help.

[ali]

Here in WA you're allowed to salary sacrafice upto $9,500 (I think) per year. So what they do is split that over the year into 24 payments. I sacrifice towards my mortgage, - they don't sacrifice you're full rent of $500, (as over 12 months this would exceed the cap payment). Mine gets taken out before I get paid, then is put into my bank account a day later. You pay the salary sacrificing company to do this. I'm level 2.4 and come out with just over $1,600 per FN, on a flat week, I work 4 days with occassional weekends.

Ali

Ali

[jenny4nails]

What's salary sacrifice? Interesting post...but I've not heard of salary sacrifice before? Who is eligible for it?

[Quoll]

Originally Posted by jenny4nails

What's salary sacrifice? Interesting post...but I've not heard of salary sacrifice before? Who is eligible for it?

Anyone can salary sacrifice if their employer agrees. Money is taken out of pay for specific purposes before the tax is taken out of it so it essentially reduces your taxable income. Health workers and charity workers have the best deal - charity workers can sacrfice up to $16K pa on virtually anything - mortgage, rent, car, school fees, credit card etc. Different states health organizations have different agreements and probably not as comprehensive as charity workers. If anyone else wants to sacrifice into superannuation they should be able to do that with a 15% tax. Sacrificing into cars is a bit more fraught because you have to do a certain mileage otherwise you still pay 30% tax and that can be quite tricky and at the end of the day you have a car with considerably more mileage than you would probably want to buy outright. Basically, your employer sends the required amount either directly into a super account or to a third party company who then pays your other arrangements. If you are going to do it, it is always a good idea to get a financial adviser to run through your options, unless it is a no brainer like for the charity workers.

[yorkshirepom]

Originally Posted by kate b

hi
Does annyone know how to work out take home pay after all the deuctions and everything? im a nurse who will be earning basic $1900 a fortnight so what exactly will be deducted as im getting very confused!! i will hopefully benefiting from the hospital salary sacrificing sscheme of $500 a week for rent and car and loan so hopefully be paying tax on $ 400 a week, any advice would be very grateful of!! kate

Hi

I should checkn on the info health in qland allows 9000 a year for salary sacrificie as does wa works about 360 dollars a fortnight , you are talking 25000 think the old electrics are a bit muddled

Malx

aka Billy 1M

[martin948]

with all the confusion over deductions does anyone know after deductions how much $$$$ will i get for say for eg.$75000.00

[Pinhead]

Originally Posted by martin948

with all the confusion over deductions does anyone know after deductions how much $$$$ will i get for say for eg.$75000.00

In the tax year 08/09 on $75,000 you would pay $16,500 of tax & $1,125 of Medicare levy assuming you had no other deductions, pension payment,etc.
Your net pay would therefore be $57,375 pa.

[martin948]

thanks for that but i found a au gov tax site and do i understand right to think that if i earn $75001 just $1 more then tak would be about $14000 more!

[martin948]

what tax would i pay on $90k how is it worked say per $1k over $75k is it $600 per $1k