Is Australian income tax lower than UK tax?
#32
Re: Is Australian income tax lower than UK tax?
They brought in similar legislation in Australia around the time of IR35 but went further including the need to run your own physical business premise and other stuff. Does anyone know more as I never bothered with it after that?
#35
BE Forum Addict
Joined: Mar 2006
Location: Jeddah, Saudi Arabia
Posts: 1,717
Re: Is Australian income tax lower than UK tax?
Not quite murder for me, just paying me + wife minimum wage, the rest up to just below the top tax threshold for both of us in dividends and the remainder saved in the company account then dispersed under special taper relief 10% CGT when we wound up the company. All legal, above board and recently signed off by the Inland revenue - oh, and flat rate VAT too.
Any Aus tax hints you'd care to share Papilon?
Any Aus tax hints you'd care to share Papilon?
I pay annually and tend to put aside 20% of earnings each month. Last year my tax bill came to around 3%
#36
Re: Is Australian income tax lower than UK tax?
Sorry i can't pass on any tips as i just leave it up to him to sort out. My returns are quite simple as it,s mainly just me contracting to a single company. I know he doesn't claim on anything he shouldn't, checks all reciepts etc.
I pay annually and tend to put aside 20% of earnings each month. Last year my tax bill came to around 3%
I pay annually and tend to put aside 20% of earnings each month. Last year my tax bill came to around 3%
#37
BE Forum Addict
Joined: Mar 2006
Location: Jeddah, Saudi Arabia
Posts: 1,717
Re: Is Australian income tax lower than UK tax?
It was the former, but last year did see some exceptional circumstances that will be hard to repeat this time around. I was still taken by complete surprise tho.
#38
Guest
Posts: n/a
Re: Is Australian income tax lower than UK tax?
I don't pay any tax, but then, I too have some exceptional circumstances
#39
Guest
Posts: n/a
Re: Is Australian income tax lower than UK tax?
Tescos: Own Label Whole Milk 2.272Ltr/4 Pints £1.55 = A$2.48
Woolworths: Homebrand Milk Whole Bottle 2L $2.24
Oops not that one...
Cadburys Milk Tray
Tesco: Cadburys Milk Tray 200G £3.99 = A$6.38
Woolworths: Cadbury Milk Tray 200g $6.99
Not that one either...
Rice 2KG
Tesco: Own Label Long Grain Rice 2KG £2.43 = A$3.89
Woolworths: Homebrand Rice Long Grain 2kg $3.18
Nor that....
When people make statements such as the above, they should give some examples, such as the above that I did.
I have quoted Woolworths prices in Australia, even though I feel they are more expensive than other options. But they are easier to locate the current prices.
#40
Re: Is Australian income tax lower than UK tax?
Used BMW's seem to be about twice the price here...
I'm sure I could dig up some stats but on balance I'll have a beer...
I'm sure I could dig up some stats but on balance I'll have a beer...
#41
Re: Is Australian income tax lower than UK tax?
Milk: 2 Litres Own Brand
Tescos: Own Label Whole Milk 2.272Ltr/4 Pints £1.55 = A$2.48
Woolworths: Homebrand Milk Whole Bottle 2L $2.24
Oops not that one...
Cadburys Milk Tray
Tesco: Cadburys Milk Tray 200G £3.99 = A$6.38
Woolworths: Cadbury Milk Tray 200g $6.99
Not that one either...
Rice 2KG
Tesco: Own Label Long Grain Rice 2KG £2.43 = A$3.89
Woolworths: Homebrand Rice Long Grain 2kg $3.18
Nor that....
When people make statements such as the above, they should give some examples, such as the above that I did.
I have quoted Woolworths prices in Australia, even though I feel they are more expensive than other options. But they are easier to locate the current prices.
Tescos: Own Label Whole Milk 2.272Ltr/4 Pints £1.55 = A$2.48
Woolworths: Homebrand Milk Whole Bottle 2L $2.24
Oops not that one...
Cadburys Milk Tray
Tesco: Cadburys Milk Tray 200G £3.99 = A$6.38
Woolworths: Cadbury Milk Tray 200g $6.99
Not that one either...
Rice 2KG
Tesco: Own Label Long Grain Rice 2KG £2.43 = A$3.89
Woolworths: Homebrand Rice Long Grain 2kg $3.18
Nor that....
When people make statements such as the above, they should give some examples, such as the above that I did.
I have quoted Woolworths prices in Australia, even though I feel they are more expensive than other options. But they are easier to locate the current prices.
I filled up my hire car yesterday, cost me 1.28GBP per litre last time I filled up in Australia it cost me $1.17 per litre
UK is NOT as cheap as I was expecting it to be. That'll teach me to base my research on here
#42
Re: Is Australian income tax lower than UK tax?
Petrol here on avg is about $1.20 - $1.30 per litre.
#43
Re: Is Australian income tax lower than UK tax?
I've spent so much money it's not funny! I'm really glad I didn't come back with an exchange rate of $2+ as I would have had to re-mortgage
#44
Re: Is Australian income tax lower than UK tax?
maybe he's calculating the effective/average tax rate, including the tax on the first 37K in the total calculation, not just the marginal tax rate?
#45
Guest
Posts: n/a
Re: Is Australian income tax lower than UK tax?
Their statement was obviously quoting the net tax take %.
You are quoting a totally different figure to them, which obviously creates your