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Location:
Campbelltown
Registered:
November 2003
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Re: the tax system
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Fri, 22 April 2005 00:26
 
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ok basically the tax system is quite complex and has marginal tax rates ie depending on you income level a different rate of tax is applied to eahc dollar.
Tax rates 2004-05
Taxable income
Tax on this income
$0 – $6,000
Nil
$6,001 – $21,600
17c for each $1 over $6,000
$21,601 - $58,000
$2,652 plus 30c for each $1 over $21,600
$58,001 – $70,000
$13,572 plus 42c for each $1 over $58,000
Over $70,000
$18,612 plus 47c for each $1 over $70,000
they are the latest figures, so for you the first 120 of the week is tax free then the next 180 will be tax at 17%, but remember you will also not receive the compulsory 9% of superannuation, which will go straight to the super fund (when you work over i think 30-38 hours in a month superannuation contribution are made automatically by the employer).
Your friend is drivally shit about the tax system,what you claim back has nothing to do with the tax you pay, first you tax is taken out through PAYG then when you do your tax return you claim all your exepnses and will get some of the tax you paid refunded.
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| | Subject | Poster | Date |
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the tax system
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xolent | Fri, 22 April 2005 00:14 |
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Re: the tax system
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davedave | Fri, 22 April 2005 00:25 |
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Re: the tax system
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Corona RT142 | Fri, 22 April 2005 00:26 |
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Re: the tax system
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bubbles | Fri, 22 April 2005 00:26 |
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Re: the tax system
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Corona RT142 | Fri, 22 April 2005 00:29 |
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Re: the tax system
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ke382TG | Fri, 22 April 2005 00:31 |
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Re: the tax system
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Corona RT142 | Fri, 22 April 2005 00:33 |
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Re: the tax system
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bubbles | Sat, 23 April 2005 10:51 |
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Re: the tax system
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Fujiwara_ToFu | Thu, 05 May 2005 07:21 |
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Re: the tax system
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Les | Thu, 05 May 2005 07:35 |
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Re: the tax system
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ke382TG | Fri, 22 April 2005 00:35 |
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Re: the tax system
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davedave | Fri, 22 April 2005 00:37 |
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Re: the tax system
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Corona RT142 | Fri, 22 April 2005 00:37 |
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Re: the tax system
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boris | Fri, 22 April 2005 00:40 |
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Re: the tax system
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ke382TG | Fri, 22 April 2005 00:40 |
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Re: the tax system
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Corona RT142 | Fri, 22 April 2005 00:42 |
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Re: the tax system
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bbaacchhyy | Fri, 22 April 2005 02:53 |
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Re: the tax system
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Squid | Fri, 22 April 2005 03:44 |
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Re: the tax system
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Merudo | Fri, 22 April 2005 04:05 |
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Re: the tax system
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Squid | Fri, 22 April 2005 04:09 |
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Re: the tax system
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bbaacchhyy | Fri, 22 April 2005 05:02 |
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Re: the tax system
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Corona RT142 | Fri, 22 April 2005 02:54 |
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Re: the tax system
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xolent | Fri, 22 April 2005 02:56 |
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Re: the tax system
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Les | Fri, 22 April 2005 03:08 |
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Re: the tax system
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M.J.H | Fri, 22 April 2005 05:47 |
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Re: the tax system
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ed_ma61 | Fri, 22 April 2005 05:43 |
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Re: the tax system
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xolent | Fri, 22 April 2005 05:53 |
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Re: the tax system
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M.J.H | Fri, 22 April 2005 06:15 |
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Re: the tax system
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thu187 | Fri, 29 April 2005 17:23 |
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Re: the tax system
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Celica_John | Fri, 29 April 2005 22:22 |
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Re: the tax system
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ra_28 | Fri, 29 April 2005 22:50 |
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Re: the tax system
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thu187 | Sat, 30 April 2005 15:15 |
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Re: the tax system
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Toobs | Fri, 22 April 2005 12:09 |
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Re: the tax system
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Hi-Ace | Fri, 22 April 2005 22:42 |
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Re: the tax system
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FKN16V | Sun, 24 April 2005 10:52 |
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Re: the tax system
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Hi-Ace | Sun, 24 April 2005 20:42 |
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Re: the tax system
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FKN16V | Mon, 25 April 2005 00:17 |
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Re: the tax system
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Hi-Ace | Mon, 25 April 2005 00:25 |
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Re: the tax system
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M.J.H | Mon, 25 April 2005 06:50 |
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Re: the tax system
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Celica_John | Fri, 29 April 2005 10:48 |
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Re: the tax system
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thu187 | Fri, 29 April 2005 17:34 |
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