On Tue, 28 Dec 2004 17:59:40 UTC, (Badwater
Bill) wrote:

On Wed, 22 Dec 2004 18:00:57 +1100, jc wrote:

Chris Lasdauskas wrote:

snip

The top personal tax rate is lower than 40% and you only pay it on the
part of your income above a certain threshold, so no-one is paying
40%. Yes we pay GST, but previously we paid sales taxes which it
replaced so the result is about the same. On the up side we don't pay
state taxes like the US seem to do. If you find a study comparing
international tax rates - where all taxes, levies, stamp duties etc
are included, you'll find that Australia is in the lower part of total
tax range, probably (though I am going from memory here) lower than
what some parts of the US pay.

What country are you in - certainly not Australia

http://www.ato.gov.au/individuals/co...u=5053&mfp=001

shows

Over $70,000

$18,612 plus 47c for each $1 over $70,000

At the point that you start paying 47c on your next dollar earned
($70,0001) the average you are paying is only 26.6% (18612/70000)

The above rates do not include the Medicare levy of 1.5%.

Which is a compulsory health insurance collected through the tax
system.


As I said above, I thought this was correct. Thanks for backing it up
for us.

BWB
Chris
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