RE: What level of taxation do you have in your country?
>Whilst posting on another thread, I thought of this subject.
>
>What levels of personal income taxation apply in your
>country?
>
>An article in our Sunday papers this week indicated that we
>Australians are taxed at the highest level of any developed
>nation in the world. Our top personal taxation level is
>47%, which comes in at $60,000 (about 22,300 sterling,
>$31,000 US) In addition to the normal tax rate, we also pay
>a further 1.5% for the national health scheme (Medicare) and
>if you earn over $50,000 as a single person, or $100,000 as
>a couple, and don’t have private medical coverage, you pay a
>further 1% tax. In other words, our top rate can go as high
>as 49.5%
>
>The same article showed that in the UK, the top rate is 40%,
>which comes in at the equivalent of $84,000 AUS, and the US
>top rate, of 37.6%, doesn’t cut in until your salary reaches
>$558,000 AUS.
>
>We also introduced the Goods and Services Tax (GST) in 2000,
>which is 10% on all goods and services except basic foods,
>medical and education.
>
>So, what tax rates apply in your country? Is there a
>feeling in your community that tax rates are too high?
>
>Regards
>
>Wombat
The Australian Tax account explained well in summary here, but IMO – still too much!!
Regards, Glenn (another Aussie)
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