how much tax is paid monthly from your wages
#1
how much tax is paid monthly from your wages
Hi,
My hubby and I are wondering how much tax Australians pay out of there salaries ?
We know the bandings here but trying to work out your bring home pay is difficult if we don't know what gets deducted ?
Can anyone help please
Carrianne
My hubby and I are wondering how much tax Australians pay out of there salaries ?
We know the bandings here but trying to work out your bring home pay is difficult if we don't know what gets deducted ?
Can anyone help please
Carrianne
#2
Re: how much tax is paid monthly from your wages
Originally posted by Carrianne
Hi,
My hubby and I are wondering how much tax Australians pay out of there salaries ?
We know the bandings here but trying to work out your bring home pay is difficult if we don't know what gets deducted ?
Can anyone help please
Carrianne
Hi,
My hubby and I are wondering how much tax Australians pay out of there salaries ?
We know the bandings here but trying to work out your bring home pay is difficult if we don't know what gets deducted ?
Can anyone help please
Carrianne
check out www.ato.gov.au and you will find calculators and the information you need.
KS
#3
You need to check out a couple of websites
http://www.ato.gov.au/level2.asp?placement=AS/IN
and they aslo have calculators on there, best way to start is just with simple calculations, eg If I earn 3000 per month = 36000 per annum
try this page - http://www.ato.gov.au/scripts/axos/a...001i.xra&go=ok
then you can see although it does not take off medicare etc - it works out you would pay 7180 tax per annum = 598 per month.
There are then individual calculators
http://www.ato.gov.au/scripts/taxcal...ndard_hire.asp
Using this method the Tax withheld on a 3000 a month = 646, approximate difference because of medicare levy
This is the same calculation as the bandings
0-6000 - nil = 500 earned tax free
6-20000 - 17%
20 - 50000 - 2380 + 30% for each over 20000
36000 leaves you in this band therefore 36000 - 20000 = 16000 at 30@ = 4800 + 2380 = 7180
Medicare levy = 1.5 %
Let me know if you want some further help doing the calculations, you can send me a private message. I am not offering any financial service or advice, I just work with payroll calculations in my main job and a bit sad I find them interesting!
Regards Sandra
There are other factors to take into account and individual circumstances can impact, eg joint incomes below certai thresholds although tax rebates and child allowances as well - you need to read the tax website for individual requirements
http://www.ato.gov.au/level2.asp?placement=AS/IN
and they aslo have calculators on there, best way to start is just with simple calculations, eg If I earn 3000 per month = 36000 per annum
try this page - http://www.ato.gov.au/scripts/axos/a...001i.xra&go=ok
then you can see although it does not take off medicare etc - it works out you would pay 7180 tax per annum = 598 per month.
There are then individual calculators
http://www.ato.gov.au/scripts/taxcal...ndard_hire.asp
Using this method the Tax withheld on a 3000 a month = 646, approximate difference because of medicare levy
This is the same calculation as the bandings
0-6000 - nil = 500 earned tax free
6-20000 - 17%
20 - 50000 - 2380 + 30% for each over 20000
36000 leaves you in this band therefore 36000 - 20000 = 16000 at 30@ = 4800 + 2380 = 7180
Medicare levy = 1.5 %
Let me know if you want some further help doing the calculations, you can send me a private message. I am not offering any financial service or advice, I just work with payroll calculations in my main job and a bit sad I find them interesting!
Regards Sandra
There are other factors to take into account and individual circumstances can impact, eg joint incomes below certai thresholds although tax rebates and child allowances as well - you need to read the tax website for individual requirements
#4
Banned
Joined: Aug 2002
Location: Perth Arse end of the planet
Posts: 7,037
Originally posted by Sandra
You need to check out a couple of websites
http://www.ato.gov.au/level2.asp?placement=AS/IN
and they aslo have calculators on there, best way to start is just with simple calculations, eg If I earn 3000 per month = 36000 per annum
try this page - http://www.ato.gov.au/scripts/axos/a...001i.xra&go=ok
then you can see although it does not take off medicare etc - it works out you would pay 7180 tax per annum = 598 per month.
There are then individual calculators
http://www.ato.gov.au/scripts/taxcal...ndard_hire.asp
Using this method the Tax withheld on a 3000 a month = 646, approximate difference because of medicare levy
This is the same calculation as the bandings
0-6000 - nil = 500 earned tax free
6-20000 - 17%
20 - 50000 - 2380 + 30% for each over 20000
36000 leaves you in this band therefore 36000 - 20000 = 16000 at 30@ = 4800 + 2380 = 7180
Medicare levy = 1.5 %
Let me know if you want some further help doing the calculations, you can send me a private message. I am not offering any financial service or advice, I just work with payroll calculations in my main job and a bit sad I find them interesting!
Regards Sandra
There are other factors to take into account and individual circumstances can impact, eg joint incomes below certai thresholds although tax rebates and child allowances as well - you need to read the tax website for individual requirements
You need to check out a couple of websites
http://www.ato.gov.au/level2.asp?placement=AS/IN
and they aslo have calculators on there, best way to start is just with simple calculations, eg If I earn 3000 per month = 36000 per annum
try this page - http://www.ato.gov.au/scripts/axos/a...001i.xra&go=ok
then you can see although it does not take off medicare etc - it works out you would pay 7180 tax per annum = 598 per month.
There are then individual calculators
http://www.ato.gov.au/scripts/taxcal...ndard_hire.asp
Using this method the Tax withheld on a 3000 a month = 646, approximate difference because of medicare levy
This is the same calculation as the bandings
0-6000 - nil = 500 earned tax free
6-20000 - 17%
20 - 50000 - 2380 + 30% for each over 20000
36000 leaves you in this band therefore 36000 - 20000 = 16000 at 30@ = 4800 + 2380 = 7180
Medicare levy = 1.5 %
Let me know if you want some further help doing the calculations, you can send me a private message. I am not offering any financial service or advice, I just work with payroll calculations in my main job and a bit sad I find them interesting!
Regards Sandra
There are other factors to take into account and individual circumstances can impact, eg joint incomes below certai thresholds although tax rebates and child allowances as well - you need to read the tax website for individual requirements
Any reason you left out top rates above $50k or is it a case no one can earn that in your view?
#5
PB I really wish you would grow up sometime - read the post I responded to - they said they knew the rates and bands - I only showed an example of how to calculate a specific amount.
And one other thing, please quote the correct information if you have to quote at all, the highest rate is over 60K not 50K.
I really do not have a problem with the majority of your comments but you are beginning to come on everyones threads regardless of whether you have a valid point to make or not. This is childish and demeaning to yourself. Any relevance of anything you might have to say is weakened by this approach. Please respond to me privately if you have anything to say I do not want to have an inane conversation over this forum like so many of your others when you lose the plot.
Regards
And one other thing, please quote the correct information if you have to quote at all, the highest rate is over 60K not 50K.
I really do not have a problem with the majority of your comments but you are beginning to come on everyones threads regardless of whether you have a valid point to make or not. This is childish and demeaning to yourself. Any relevance of anything you might have to say is weakened by this approach. Please respond to me privately if you have anything to say I do not want to have an inane conversation over this forum like so many of your others when you lose the plot.
Regards
#6
Migration Agent
Joined: May 2002
Location: Offices in Melbourne, Brisbane, Perth, Geelong (Australia), and Southampton (UK)
Posts: 6,459
Re: how much tax is paid monthly from your wages
Carrianne,
There are some useful calculators here:
http://afr.com/cch/calculators/
Best regards.
There are some useful calculators here:
http://afr.com/cch/calculators/
Best regards.
Originally posted by Carrianne
Hi,
My hubby and I are wondering how much tax Australians pay out of there salaries ?
We know the bandings here but trying to work out your bring home pay is difficult if we don't know what gets deducted ?
Can anyone help please
Carrianne
Hi,
My hubby and I are wondering how much tax Australians pay out of there salaries ?
We know the bandings here but trying to work out your bring home pay is difficult if we don't know what gets deducted ?
Can anyone help please
Carrianne
#7
Banned
Joined: Aug 2002
Location: Perth Arse end of the planet
Posts: 7,037
Originally posted by Sandra
PB I really wish you would grow up sometime - read the post I responded to - they said they knew the rates and bands - I only showed an example of how to calculate a specific amount.
And one other thing, please quote the correct information if you have to quote at all, the highest rate is over 60K not 50K.
I really do not have a problem with the majority of your comments but you are beginning to come on everyones threads regardless of whether you have a valid point to make or not. This is childish and demeaning to yourself. Any relevance of anything you might have to say is weakened by this approach. Please respond to me privately if you have anything to say I do not want to have an inane conversation over this forum like so many of your others when you lose the plot.
Regards
PB I really wish you would grow up sometime - read the post I responded to - they said they knew the rates and bands - I only showed an example of how to calculate a specific amount.
And one other thing, please quote the correct information if you have to quote at all, the highest rate is over 60K not 50K.
I really do not have a problem with the majority of your comments but you are beginning to come on everyones threads regardless of whether you have a valid point to make or not. This is childish and demeaning to yourself. Any relevance of anything you might have to say is weakened by this approach. Please respond to me privately if you have anything to say I do not want to have an inane conversation over this forum like so many of your others when you lose the plot.
Regards