Quote:
Originally Posted by UsmanArshad1
Hii
any one living in OZ could help me to tell the rates of income tax . I have seen alots of web sites but still confused.
Some sites tell it as no tax till 6000$ but some sites do deduct 33% . please tell me exact figures and rates
regards
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Tax rates will vary for residents and non residents.
For residents (this does not include Medicare levy of 1.5%)
FOR TAX YEAR 2008/2009
$1 - $6000= NIL TAX
$6001 - $34,000 = 15c each $1 over $6,000
$34,001 - $80,000 = $4,200 +30c each $1 over $34,000
$80,001 - $180,000 = $18,000 + 40c each $1 over $80,000
$180,000 + over = $58,000 + 45c each $1 over $180,000
Tax offsets can reduce amount of tax payable, and each persons case will be different.
Have a look at
Australian Taxation Office Homepage
This is the Australian Tax Office, which will give you rates to suit you (you can do a quick quiz to see approx rate of tax payable)