Welcome to Netrider ... Connecting Riders!

Interested in talking motorbikes with a terrific community of riders?
Signup (it's quick and free) to join the discussions and access the full suite of tools and information that Netrider has to offer.

Help with Tax

Discussion in 'The Pub' started by PJ2, Jun 28, 2006.

  1. I've never had proper tax taken out of my pay, so I am new to this stuff. And I am about to start a new job and would like to find this info out.

    If I earn $25 to 26,000 a year, how much tax will be taken out


    Tim :grin:
  2. Go straight to the Australian Tax Office Site, CLICK HERE, do not pass go , do not collect $200
  3. Hi Tim

    For the year ending 30 June 2006:

    You pay no tax on the first $6,000 you earn.
    Then you pay 15cents tax for each $ you earn up to $21,600.
    Then 30cents for each $ over $21,600

    Your pay = 25,000
    Tax = $3,672

    thats by my calculations anyway. Of cause your taxable income can be reduced if you have any deductions available. 3-3.5g's is probably a rough guide.
  4. Thanks for your help guys.

    Thanks Duffman for giving a rough idea, I worked it out as $6500 :oops: :oops: Dont know where I went wrong. :wink: