How Does Tax Work In Oz??

SupraSonic_26

Hi all what is the tax like over there wage wise is it as bad as here or worse? here im getting taxed nearly 500 euros a month on my wages just wondering how works over there and is much of your wages taken?

mandrake04

Tax is usually in bands

0 - $18,200 Nil
$18,201 - $37,000 19c for each $1 over $18,200
$37,001 - $80,000 $3,572 plus 32.5c for each $1 over $37,000
$80,001 - $180,000 $17,547 plus 37c for each $1 over $80,000
$180,001 and over $54,547 plus 45c for each $1 over $180,000


As a percentage on for example $120,000 you would pay about 28% over all.

Peregrinus

Direct comparisons are difficult, because tax rates do depend on indivdual circumstances. A married couple, for example, can pool tax allowances and tax bands in Ireland in a way that signficantly lowers their combined tax rate; this isn't possible in Australia.

No6

A lot of people hire an accountant at the end of the year and they claim a load of stuff back, not sure what yet as I havnt been here that long.

If you are working in remote areas and depending on your employer you may be able to salary sacrifice some of your salary towards rent and a few other expenses, when you do this they take 50% of your rent from your pre-tax salary, then a day or two later you get it back but it has reduced the tax paid as your gross salary has been reduced!!