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Tax and other deductions ... Idiots guide please !

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Tax and other deductions ... Idiots guide please !

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Old Jan 31st 2006, 1:07 pm
  #1  
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Default Tax and other deductions ... Idiots guide please !
Ok ... here's the deal:

I'm offered $80K basic + superannuation contributions of approximately 9% on top ...

What am I going to lose to Mr. Howard ?

All deductions please ... I want the bottom line.

Cheers

Three Legs
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Old Jan 31st 2006, 1:57 pm
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Default Re: Tax and other deductions ... Idiots guide please !
......

Thanks ......
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Old Jan 31st 2006, 2:10 pm
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Default Re: Tax and other deductions ... Idiots guide please !
Originally Posted by Three Legs
Ok ... here's the deal:

I'm offered $80K basic + superannuation contributions of approximately 9% on top ...

What am I going to lose to Mr. Howard ?

All deductions please ... I want the bottom line.

Cheers

Three Legs
Too f***ing much.
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Old Jan 31st 2006, 2:17 pm
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Default Re: Tax and other deductions ... Idiots guide please !
I gathered that ... but HOW much ?

What's the tax office's website ? ...

Originally Posted by Amazulu
Too f***ing much.
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Old Jan 31st 2006, 2:20 pm
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Default Re: Tax and other deductions ... Idiots guide please !
Hey Three Legs, try ...

www.ato.gov.au yer lazy b******
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Old Jan 31st 2006, 4:54 pm
  #6  
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Default Re: Tax and other deductions ... Idiots guide please !
Originally Posted by Three Legs
Ok ... here's the deal:

I'm offered $80K basic + superannuation contributions of approximately 9% on top ...

What am I going to lose to Mr. Howard ?

All deductions please ... I want the bottom line.

Cheers

Three Legs
You'll fit in well in Oz.....can't even find the ATO web site!!!
Short answer - too much, more than UK.
Long answer - see the ATO web site, like everyone else does.

Good luck!
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Old Jan 31st 2006, 10:55 pm
  #7  
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Default Re: Tax and other deductions ... Idiots guide please !
Originally Posted by Three Legs
Ok ... here's the deal:

I'm offered $80K basic + superannuation contributions of approximately 9% on top ...

What am I going to lose to Mr. Howard ?

All deductions please ... I want the bottom line.

Cheers

Three Legs
The estimated tax on your $80,000 income is: $23,312.00 (29%) + $1,200 basic medicare levy and maybe a bit more ($800), if you are single and don't have hospital insurance.

Not sure how much Mr Howard gets of it, but the majority of it gets spent on other things

If you have children, then you get some back, in the form of FTB etc.
 
Old Feb 1st 2006, 12:31 am
  #8  
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Default Re: Tax and other deductions ... Idiots guide please !
Originally Posted by Amazulu
Too f***ing much.
Amazulu talking about the salary...
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Old Feb 1st 2006, 12:33 am
  #9  
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Default Re: Tax and other deductions ... Idiots guide please !
Originally Posted by Three Legs
Ok ... here's the deal:

I'm offered $80K basic + superannuation contributions of approximately 9% on top ...

What am I going to lose to Mr. Howard ?

All deductions please ... I want the bottom line.

Cheers

Three Legs
Roughly 25K I guess...
And you are not donating to Mr. Howard but to Peter Costello
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Old Feb 1st 2006, 12:34 am
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Default Re: Tax and other deductions ... Idiots guide please !
Originally Posted by BartSimpson
Amazulu talking about the salary...
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Old Feb 1st 2006, 3:50 am
  #11  
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Default Re: Tax and other deductions ... Idiots guide please !
Originally Posted by Amazulu
When you live in australia think as the aussies do and get an accountant to do your tax returns it is really the only way through the mine field. They are very reasonable in price and good and then you can claim their costs in the following year's returns. (They got us a rebate!!!!) which we were not expecting
Cost for one person's returns between $90 and $110 plus GST 10% depending on how complicated your affairs are.
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