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New immigrant should be aware of the income tax in Australia. Tax rates 2014-15 The following rates for 2014-15 apply from 1 July 2014. Taxable income Tax on this income 0 – $18,200 Nil $18,201 – $37,000 19c for each $1 over $18,200 $37,001 – $80,000 $3,572 plus 32.5c for each $1 over $37,000 $80,001 – $180,000 $17,547 plus 37c for each $1 over $80,000 $180,001 and over $54,547 plus 45c for each $1 over $180,000 The above rates do not include the Medicare levy of 2% Find out more Medicare levy End of find out more The above rates do not include the Temporary Budget Repair Levy. The Temporary Budget Repair Levy is payable at a rate of 2% for taxable incomes over $180,000. ATO Link: https://www.ato.gov.au/rates/individual-income-tax-rates/
Guest posted a topic in Money & FinanceEarlier someone asked about links to ATO pages that provide the basic information needed to conisder your tax position. Here you go: Examples of residents and non-residents for tax purposes We have outlined a number of scenarios that may help you to determine whether you are a resident or a non-resident for income tax purposes Examples of residents and non-residents General treatment of foreign pensions and annuities[/url] http://www.ato.gov.au/individuals/content.asp?doc=/content/34780.htm Tax treatment of transfers from foreign super funds Tax treatment of transfers from foreign super funds and specific to UK Pensions some addtional info: Tax treatment of transfers from foreign super funds Hope these help. Liam