Idiots Guide to Income Tax/Super/Benefits
Jan 8th 2008, 6:17 pm
#1
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Thread Starter
Joined: Nov 2005
Location: Brisbane
Posts: 413
Idiots Guide to Income Tax/Super/Benefits
We are looking to move to QLD. I have tried the OSR website, but cannot find the following info:
1. Basic rate of income tax
2. Exactly what Superannuation is and how much it costs
3. What benefits a family is entitled to (child benefit and anything else that might be out there)
So for example:
If a person were to earn AUD100k per year (total random amount) how would I calculate the above?
Anybody care to fill me in?
Please
Thanks you
1. Basic rate of income tax
2. Exactly what Superannuation is and how much it costs
3. What benefits a family is entitled to (child benefit and anything else that might be out there)
So for example:
If a person were to earn AUD100k per year (total random amount) how would I calculate the above?
Anybody care to fill me in?
Please
Thanks you
Jan 8th 2008, 7:06 pm
#2
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Joined: Sep 2007
Location: Wollongong
Posts: 766
Re: Idiots Guide to Income Tax/Super/Benefits
I usually go on the centrelink website for that kind of info
Jan 8th 2008, 7:42 pm
#3
Forum Regular
Joined: Aug 2005
Location: Avalon, NSW
Posts: 198
Re: Idiots Guide to Income Tax/Super/Benefits
We are looking to move to QLD. I have tried the OSR website, but cannot find the following info:
1. Basic rate of income tax
2. Exactly what Superannuation is and how much it costs
3. What benefits a family is entitled to (child benefit and anything else that might be out there)
So for example:
If a person were to earn AUD100k per year (total random amount) how would I calculate the above?
Anybody care to fill me in?
Please
Thanks you
1. Basic rate of income tax
2. Exactly what Superannuation is and how much it costs
3. What benefits a family is entitled to (child benefit and anything else that might be out there)
So for example:
If a person were to earn AUD100k per year (total random amount) how would I calculate the above?
Anybody care to fill me in?
Please
Thanks you
Regarding tax, your best bet is the ATO (Aus Tax Office) - http://www.ato.gov.au/individuals/default.asp They have a simple (and more involved) tax calculator here: http://calculators.ato.gov.au/script...xcalc/main.asp
$100k produces an estimate of $27,850 tax - note that it may be more depending on Medicare, etc.
Can't help you on the other points. Sorry.
Jan 8th 2008, 8:29 pm
#4
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Joined: Aug 2005
Location: Kingston, Tas
Posts: 2,264
Re: Idiots Guide to Income Tax/Super/Benefits
We are looking to move to QLD. I have tried the OSR website, but cannot find the following info:
1. Basic rate of income tax
2. Exactly what Superannuation is and how much it costs
3. What benefits a family is entitled to (child benefit and anything else that might be out there)
So for example:
If a person were to earn AUD100k per year (total random amount) how would I calculate the above?
Anybody care to fill me in?
Please
Thanks you
1. Basic rate of income tax
2. Exactly what Superannuation is and how much it costs
3. What benefits a family is entitled to (child benefit and anything else that might be out there)
So for example:
If a person were to earn AUD100k per year (total random amount) how would I calculate the above?
Anybody care to fill me in?
Please
Thanks you
http://www.financeadvisor.com.au/per...ustralia/7955/
Jan 8th 2008, 8:37 pm
#5
BE Forum Addict
Joined: Jun 2003
Location: Sydney beachside
Posts: 3,505
Re: Idiots Guide to Income Tax/Super/Benefits
We are looking to move to QLD. I have tried the OSR website, but cannot find the following info:
1. Basic rate of income tax
2. Exactly what Superannuation is and how much it costs
3. What benefits a family is entitled to (child benefit and anything else that might be out there)
So for example:
If a person were to earn AUD100k per year (total random amount) how would I calculate the above?
Anybody care to fill me in?
Please
Thanks you
1. Basic rate of income tax
2. Exactly what Superannuation is and how much it costs
3. What benefits a family is entitled to (child benefit and anything else that might be out there)
So for example:
If a person were to earn AUD100k per year (total random amount) how would I calculate the above?
Anybody care to fill me in?
Please
Thanks you
2. Superannuation is your pension fund. Employers have to pay a minimum of 9% of your gross income to your Super fund. You can either pick your own Super fund or use theirs. You can pay more in than the 9% if you want to - it comes out of your pre-tax earnings so is a tax-efficient investment. Take care when weighing up salary packages - sometimes the annual salary quoted will include the compulsory 9% (which means that your actual income will be less than it appears at first glance), sometimes it won't.
3. I wouldn't hold your breathe about getting any benefits. That salary is a reasonable one and almost every benefit is effectively means-tested. We've always earned a good income, brought up two kids and have never received a cent of benefit of any kind.
Jan 9th 2008, 5:08 am
#6
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Thread Starter
Joined: Nov 2005
Location: Brisbane
Posts: 413
Re: Idiots Guide to Income Tax/Super/Benefits
1. As someone has already said, see the ATO site for tax rates.
2. Superannuation is your pension fund. Employers have to pay a minimum of 9% of your gross income to your Super fund. You can either pick your own Super fund or use theirs. You can pay more in than the 9% if you want to - it comes out of your pre-tax earnings so is a tax-efficient investment. Take care when weighing up salary packages - sometimes the annual salary quoted will include the compulsory 9% (which means that your actual income will be less than it appears at first glance), sometimes it won't.
3. I wouldn't hold your breathe about getting any benefits. That salary is a reasonable one and almost every benefit is effectively means-tested. We've always earned a good income, brought up two kids and have never received a cent of benefit of any kind.
2. Superannuation is your pension fund. Employers have to pay a minimum of 9% of your gross income to your Super fund. You can either pick your own Super fund or use theirs. You can pay more in than the 9% if you want to - it comes out of your pre-tax earnings so is a tax-efficient investment. Take care when weighing up salary packages - sometimes the annual salary quoted will include the compulsory 9% (which means that your actual income will be less than it appears at first glance), sometimes it won't.
3. I wouldn't hold your breathe about getting any benefits. That salary is a reasonable one and almost every benefit is effectively means-tested. We've always earned a good income, brought up two kids and have never received a cent of benefit of any kind.
I wish. That was just a salary for example purposes. I would be a very happy lady if we could get that sort of money.
Thanks everybody else for the links. Really useful
