Guest LeeJane Posted May 18, 2006 Share Posted May 18, 2006 Hi, Can anyone tell me the approx rate of income tax in Oz? And is there a supertax band like here in the UK? ie 22% and then 40% above a certain amount. We are looking to move early 07 and I'm looking at potential jobs and just wondering what the taxation rate is so I can work out take home pay. Thanks, Lee PS. I have been watching the site for a while now. I think all regulars can guess one person who will have an answer for me!!!!! Link to comment Share on other sites More sharing options...
Guest forshac Posted May 18, 2006 Share Posted May 18, 2006 Hi there.. I have a book called - Living and Working in Australia by David Hampshire which I seriously recommend you get. What ever's not in this book you could write on the back of a post stamp.. However, I do agree with you, ABC Diamond is the font of all knowledge Link to comment Share on other sites More sharing options...
Guest ABCDiamond Posted May 18, 2006 Share Posted May 18, 2006 Effective from July 1st 2006 Tax Rates for the year 2006/2007 are: NEW Taxable income : Tax on this income $0 – $6,000 : Nil $6,001 – $25,000 : 15c for each $1 over $6,000 $25,001 – $75,000 : $2,850 plus 30c for each $1 over $25,000 $75,001 – $150,000 : $17,850 plus 40c for each $1 over $75,000 Over $150,000 : $47,850 plus 45c for each $1 over $150,000 * Low income earners under $10,000 will pay no tax, due to the Low Income Tax Offset. Some Examples of Tax calculations (at 2006/2007 rates) are: $25,000 gross = $2,850.00 tax (ie: 11.40% of gross) $35,000 gross = $5,850.00 tax (ie: 16.71% of gross) $45,000 gross = $8,850.00 tax (ie: 19.67% of gross) $55,000 gross = $11,850.00 tax (ie: 21.55% of gross) $65,000 gross = $14,850.00 tax (ie: 22.85% of gross) $75,000 gross = $17,850.00 tax (ie: 23.80% of gross) $85,000 gross = $21,850.00 tax (ie: 25.71% of gross) $100,000 gross = $27,850.00 tax (ie: 27.85% of gross) $200,000 gross = $67,850.00 tax (ie: 33.93% of gross) On top of these rates will be the 1.5% Medicare levy. If a single person earns more than $50,000, or a couple earn over $100,000 (combined), and DO NOT HAVE private medical insurance, this will be increased to a 2.5% Medicare levy. Link to comment Share on other sites More sharing options...
Guest LeeJane Posted May 19, 2006 Share Posted May 19, 2006 Thanks everyone for your help Link to comment Share on other sites More sharing options...
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