sandradee

Hi. Just wondering what the tax thresholds are in Aus, and what rate of income tax is payable on earnings, and at what wage does it become a higher rate etc.

Cheers if you know

CadburysFingers

I think these are the current rates, but I could be wrong;

Tax rates 2006-07
Taxable income
Tax on this income

$0 – $6,000
Nil

$6,001 – $25,000
15c for each $1 over $6,000

$25,001 – $75,000
$2,850 plus 30c for each $1 over $25,000

$75,001 – $150,000
$17,850 plus 40c for each $1 over $75,000

Over $150,000
$47,850 plus 45c for each $1 over $150,000

ianandhelena

have a look at the tax office website www.ato.gov.au -lots of useful stuff, income/tax calculators etc etc

CadburysFingers

This has aroused my curiosity now!..So are you better off earning upto 75k and not a cent more..........or are you getting clobbered more by earning over 75k. (not that this is smoething I need to worry about ) Tax table is here; http://www.ato.gov.au/individuals/co...tent/12333.htm

ianandhelena

there is a calculator on that page; putting in an annual salary of $75k you pay $19800 in tax, a salary of $100K means you pay $30550 tax i.e. on the extra $25k earned tax of $10750 is payable (these figures ignore medicare levy, tax offsets etc)

mand8002

They are

up to $6000 nil

6001-21600 15c in the dollar

216001-63000 30c in the dollar

63001 - 95000 42c in the dollar

over 95000 47c in the dollar

MartinLuther

They look like last year's rates. The ones posted by CF above are the ones for this year.

MartinLuther

Only the extra $s over $75k will get clobbered more. It's the same system as the UK.