Robinson Family

Hi all

This is my first attempt please excuse any mistakes.

Could anyone help me find out how the taxation system works in Oz?
I believe it is a lot higher, does that mean I am going to be a lot worse off????


Robinson Family

Bordy

Have a look on there website
http://www.ato.com.au/

I wouldn't agree that its a LOT higher although possibly more things get taxed over here like Superannuation, stamp duty on buying a house etc.

Bix

Welcome to the forum Robinsons

Don't just look at straight paypacket tax rates to make a true comparison.

UK VAT 17.5% / Aus GST 10.0%
UK tax on petrol very high / Aus low

Hope you get my drift ?

Look at total cost of living.
It is generally accepted that the cost of living in Aus is about the same as UK when you take into account earning an Aus wage to pay Aus costs / prices.

Hope that helps.

tinaj

Here are the new bands that have been released last month:

Earnings $
0- 6000 - 0%
6001-21 600 - 17%
21601-58 000 - 30%
58 001- 70 000 - 42%
>70 000 - 47%

The earnings have gone up a bit so we should be paying abit less tax this year. The bands work the same as in the Uk if you earnt $8000 for example you would pay no tax on $6000 and 17% on the other $2000 etc.


The tax on petrol is a lot less here even with the current rises I paid 89.5 c for a litre yesterday = 33p!