paddygunner Posted May 21, 2011 Share Posted May 21, 2011 Here in Ireland there is additional tax credits for a 2 income earning family. ie. family with 1 earning a salary of €70000 pays more tax than a family with both working total household earnings of €70000. Is there similar additional tax credits for double income families in Aus. Or is it the same tax rate whether you are single or married? P Link to comment Share on other sites More sharing options...
Guest siamsusie Posted May 26, 2011 Share Posted May 26, 2011 Hi Paddy, I am moving this over to the financial thread in the hope of some answers for you. Very best wishes Susie x Link to comment Share on other sites More sharing options...
Guest Ph0en1x Posted May 26, 2011 Share Posted May 26, 2011 Here in Ireland there is additional tax credits for a 2 income earning family.ie. family with 1 earning a salary of €70000 pays more tax than a family with both working total household earnings of €70000. Is there similar additional tax credits for double income families in Aus. Or is it the same tax rate whether you are single or married? P The rate is the same Link to comment Share on other sites More sharing options...
Eera Posted May 26, 2011 Share Posted May 26, 2011 The individual is taxed, not the family income, so say both my husband and I were earning $85K, we would both be at the same rate of 42%. If I earned $160k and he earned nothing, I would be taxed at 45%. Things like pensions are affected if you're married (which is why there's an increasng trend for older people not to officially shack up together); you get more as two singles than 1 family. Link to comment Share on other sites More sharing options...
Guest Ph0en1x Posted May 26, 2011 Share Posted May 26, 2011 The individual is taxed, not the family income, so say both my husband and I were earning $85K, we would both be at the same rate of 42%. If I earned $160k and he earned nothing, I would be taxed at 45%. Things like pensions are affected if you're married (which is why there's an increasng trend for older people not to officially shack up together); you get more as two singles than 1 family. The tax rates are as follows 0-37k - 29% 0-80k - 30% 80-180k - 37% >180k - 45% All annual leave is taxed at the marginal rate Link to comment Share on other sites More sharing options...
fish.01 Posted May 26, 2011 Share Posted May 26, 2011 The tax rates are as follows0-37k - 29% 0-80k - 30% 80-180k - 37% >180k - 45% All annual leave is taxed at the marginal rate The ATO reports: 0 - $6,000 Nil $6,001 - $35,000 15c for each $1 over $6,000 $35,001 - $80,000 $4,350 plus 30c for each $1 over $35,000 $80,001 - $180,000 $17,850 plus 38c for each $1 over $80,000 $180,001 and over $55,850 plus 45c for each $1 over $180,000 Are your rates 457 rates or something? Link to comment Share on other sites More sharing options...
Guest Ph0en1x Posted May 26, 2011 Share Posted May 26, 2011 The ATO reports: 0 - $6,000 Nil $6,001 - $35,000 15c for each $1 over $6,000 $35,001 - $80,000 $4,350 plus 30c for each $1 over $35,000 $80,001 - $180,000 $17,850 plus 38c for each $1 over $80,000 $180,001 and over $55,850 plus 45c for each $1 over $180,000 Are your rates 457 rates or something? Yes they are non-resident rates Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.