OZ taxes

[Dumbledore]

I'll be moving to Australia soon and was wondering if someone could tell me, roughly, how much aussie tax I would expect to pay on, say, a $100,000 gross yearly salary?

Thanks to all.

Dumbledore.

[404 Titan]

Dumbledore

Income tax in Aus is almost 50%. Then you have got to take in another 10% for GST, another 1% for bank debits tax, state taxes etc.. You will end up paying about 60% in taxes to various governments. Thank god I am not a resident there anymore because there is no incentive for anyone to go out and work harder to get ahead. Politicians pandering to the minority groups make me sick.:yuk:

[Di_Vosh]

Dumbledore, you may think you've asked a simple question, but the Australian Taxation act is one of our more complicated documents.

Income tax is on a sliding scale, so while you're paying 48% on $100k pa., you're paying that 48% only on the income above the top tax bracket (around $50,000 I think). Below the top tax bracket you'll be paying less, on a sliding scale, down to no tax for your first $5000.00.

Plus, we've got GST, Medicare levy, and other bits that all add up.

And then, at the end of the financial year, you can try to claim some of it back (tax return). This is where the fun starts, and here is where you try to claim all your work related expenses back off the tax man. (Don't try this at home, though, as the penalties for submitting a false tax return can be high).

Try looking at

www.ato.gov.au

Sadly, that website is "reasonably complicated". The best advice is to go to a Tax accountant once you're here (and the cost of going to an accountant IS tax deductable for next year).

Hope this helps,

DIVOSH!