ATO tax calculator, need help
Mar 31st 2006, 8:37 am
#1
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ATO tax calculator, need help
Have just been on the ATO website and used there calculator as we will only be here working for 4 month of the tax year and wanted to see how mush ish we would be tax next year and it came out the same :scared: as if we were working a full year. Is this me being stupid and not using it correctly.
Mar 31st 2006, 8:46 am
#2
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Re: ATO tax calculator, need help
Just tryied again and this is what I got:
EXAMPLE 1:
GROSS WAGE £75,000
TAX YEAR 2005
SATAUS RESIDENT FOR FULL YEAR
TAX £20,962
-------------------------------------------------------
EXAMPLE 2:
GROSS WAGE £75,000
TAX YEAR 2005
SATAUS RESIDENT FOR 4 MONTHS
TAX £21,642 :scared: :scared:
EXAMPLE 1:
GROSS WAGE £75,000
TAX YEAR 2005
SATAUS RESIDENT FOR FULL YEAR
TAX £20,962
-------------------------------------------------------
EXAMPLE 2:
GROSS WAGE £75,000
TAX YEAR 2005
SATAUS RESIDENT FOR 4 MONTHS
TAX £21,642 :scared: :scared:
Mar 31st 2006, 9:19 am
#3
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Re: ATO tax calculator, need help
Originally Posted by tabby
Just tryied again and this is what I got:
EXAMPLE 1:
GROSS WAGE £75,000
TAX YEAR 2005
SATAUS RESIDENT FOR FULL YEAR
TAX £20,962
-------------------------------------------------------
EXAMPLE 2:
GROSS WAGE £75,000
TAX YEAR 2005
SATAUS RESIDENT FOR 4 MONTHS
TAX £21,642 :scared: :scared:
EXAMPLE 1:
GROSS WAGE £75,000
TAX YEAR 2005
SATAUS RESIDENT FOR FULL YEAR
TAX £20,962
-------------------------------------------------------
EXAMPLE 2:
GROSS WAGE £75,000
TAX YEAR 2005
SATAUS RESIDENT FOR 4 MONTHS
TAX £21,642 :scared: :scared:
Cheers
Buzzy
Mar 31st 2006, 9:39 am
#4
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Re: ATO tax calculator, need help
Originally Posted by Buzzy--Bee
Divide your gross wage by 3 to get what you would be paid for 4 months.
Cheers
Buzzy
Cheers
Buzzy
it's the simple things it takes people to point out 
Mar 31st 2006, 10:22 am
#5
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Re: ATO tax calculator, need help
Sorry, but doesnt work quite that way. Another thread had similar questions about tax. If you are a part resident for the tax year this affects your tax free threshold. Instead of $6k tax free which full year residents get, you get $500 for each month you are here, then are taxed at the lowest rate for the diff. between that amount and the $6k. Then normal tax rules apply for the rest of your income.
S
S
Mar 31st 2006, 10:42 am
#6
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Re: ATO tax calculator, need help
Originally Posted by Bert'n'Stella
Sorry, but doesnt work quite that way. Another thread had similar questions about tax. If you are a part resident for the tax year this affects your tax free threshold. Instead of $6k tax free which full year residents get, you get $500 for each month you are here, then are taxed at the lowest rate for the diff. between that amount and the $6k. Then normal tax rules apply for the rest of your income.
S
S
