MaxAmps Race Edition Lipos - RC-Monster Forums

thzero · 01.12.2011, 02:43 PM

Quote:

Originally Posted by fastbaja5b

Wow, living costs must be relatively low then. I think the minimum wage in Australia now is $13-$14 an hour for a full timer and at present $1 AUD = $1 USD.

Well maybe its that, but what are you taxes like?

PBO · 06:02 PM

Quote:

Originally Posted by thzero

Well maybe its that, but what are you taxes like?

Tax rates 2010–11

Taxable income	Tax on this income
0 – $6,000	Nil
$6,001 – $37,000	15c for each $1 over $6,000
$37,001 – $80,000	$4,650 plus 30c for each $1 over $37,000
$80,001 – $180,000	$17,550 plus 37c for each $1 over $80,000
$180,001 and over	$54,550 plus 45c for each $1 over $180,000

Finnster · 01.13.2011, 01:21 PM

Quote:

Originally Posted by PBO

Tax rates 2010–11

Taxable income	Tax on this income
0 – $6,000	Nil
$6,001 – $37,000	15c for each $1 over $6,000
$37,001 – $80,000	$4,650 plus 30c for each $1 over $37,000
$80,001 – $180,000	$17,550 plus 37c for each $1 over $80,000
$180,001 and over	$54,550 plus 45c for each $1 over $180,000

Hmm, that's not too bad. For a married, two-income couple w/ professional degrees, lets say a combined income of 120K. The taxes are almost exactly the same. However, that doesn't acct for all the exemptions, deductions, and other taxes. We also have a payroll tax of 2%(?) on the first ~$100K to fund the gov't pension program for the elderly (social security,) OTOH we get large exemptions for home owners, such as being able to deduct the interest paid on morgages. Alot of the game is hitting these to get taxes down. Sure its the same there, but don't know specifics.

My wife and I both have good jobs and end up in the upper income percentiles (we're not rich by any means, and having two young kids makes us feel broke all the time, lol ;) ) but are federal tax rate ends up close to 20% or so.