Dicko

Hi everyone,
With reference to the threads on wages etc., it would be intesting to know how much, percentage wise, a tradesman has deducted at source from his wages.
And what deduction are taken

I.E What take home pay ?

For me in Victoria in particular, or is it the same tax all over the country?

Thanks for the assistance

Dicko

Just thought I'd keep this one front page in hope of an answer
Cheers

Pollyana

Can't help you much, but I've just started work in an office in Brisbane and my first wage slip had a deduction of about 22% in tax on it.

ABCDiamond

Hi

Income Tax rates are the same for the entire Country.

If you are a subcontractor, with an ABN number, I am sure that no tax is deducted, as you do that with the tax office yourself, as a self employed person.

If you do not quote your ABN no, then the main contractor will deduct almost 50%, pay that to the Tax Office, and you get it credited against Tax due at the end of the year.

As employee you would have tax deducted per the following tables.

2003/2004.
Taxable income . . . . Tax on this income
$0 – $6,000 . . . . . . Nil
$6,001 – $21,600 .. 17c for each $1 over $6,000
$21,601 - $52,000 . $2,652 plus 30c for each $1 over $21,600
$52,001 – $62,500 . $11,772 plus 42c for each $1 over $52,000
Over $62,500 . . . . . $16,182 plus 47c for each $1 over $62,500

PLUS MEDICARE LEVY
Taxable income . . . . . Rate of Medicare levy
$1 - $20_000 . . . . . .. 0%
$20_001 to $21_621 . 20% of the difference between your taxable income and $20_000
$21_622 and over . . . 1.5% of your taxable income