Take home pay - roughly?
Apr 2nd 2008, 3:26 pm
#1
Forum Regular
Thread Starter
Joined: Mar 2008
Location: Brighton
Posts: 116
Take home pay - roughly?
Hi
There seems to be a lot of clued up people out there when it comes to the Australian tax situation so here goes!
If for example i can earn $1200 per week ($62.4K per year) as a chippy every week for a year.
I am 40,married with 4 kids, all under 7.(Don't know if that matters)
What would be my take home pay be and how would the deductions be made up?
Cheers in advance
Stuart
There seems to be a lot of clued up people out there when it comes to the Australian tax situation so here goes!
If for example i can earn $1200 per week ($62.4K per year) as a chippy every week for a year.
I am 40,married with 4 kids, all under 7.(Don't know if that matters)
What would be my take home pay be and how would the deductions be made up?
Cheers in advance
Stuart
Apr 2nd 2008, 8:43 pm
#2
Victorian Evangelist
Joined: Sep 2005
Location: Melbourne, by the beach, living the dream.
Posts: 7,704
Apr 2nd 2008, 9:30 pm
#3
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Joined: Nov 2005
Location: at the bottom of a wine glass
Posts: 28,176
Re: Take home pay - roughly?
Hi
There seems to be a lot of clued up people out there when it comes to the Australian tax situation so here goes!
If for example i can earn $1200 per week ($62.4K per year) as a chippy every week for a year.
I am 40,married with 4 kids, all under 7.(Don't know if that matters)
What would be my take home pay be and how would the deductions be made up?
Cheers in advance
Stuart
There seems to be a lot of clued up people out there when it comes to the Australian tax situation so here goes!
If for example i can earn $1200 per week ($62.4K per year) as a chippy every week for a year.
I am 40,married with 4 kids, all under 7.(Don't know if that matters)
What would be my take home pay be and how would the deductions be made up?
Cheers in advance
Stuart
Assuming you are employed and your employer pays your super contributions you would take home about $925 per week.
Your wage would be broken down like this (approx) $62,400 salary, minus $13,320 tax, minus $936 medicare levy. These figures do not take into account any tax relief you may be due nor does it take into account any family tax benefit or rent allowance you may be entitled to.
Apr 3rd 2008, 6:46 pm
#4
Forum Regular
Thread Starter
Joined: Mar 2008
Location: Brighton
Posts: 116
Re: Take home pay - roughly?
Thanks for your help
Cheers Stuart
Cheers Stuart
Apr 3rd 2008, 8:06 pm
#5
Joined: Feb 2002
Posts: 721
Re: Take home pay - roughly?
Hi
There seems to be a lot of clued up people out there when it comes to the Australian tax situation so here goes!
If for example i can earn $1200 per week ($62.4K per year) as a chippy every week for a year.
I am 40,married with 4 kids, all under 7.(Don't know if that matters)
What would be my take home pay be and how would the deductions be made up?
Cheers in advance
Stuart
There seems to be a lot of clued up people out there when it comes to the Australian tax situation so here goes!
If for example i can earn $1200 per week ($62.4K per year) as a chippy every week for a year.
I am 40,married with 4 kids, all under 7.(Don't know if that matters)
What would be my take home pay be and how would the deductions be made up?
Cheers in advance
Stuart
http://www.ato.gov.au/content/downlo...05-05-2007.pdf
Page 8. Weekly earnings: 1,200 - Tax witheld 275. Very handy reference table.
Takes the medicare levy into account.
Last edited by @boy; Apr 3rd 2008 at 8:09 pm.
