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Sh33py
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wangcg3215, post: 51047 wrote:
Hi Adam,

It really depends on your total income (see http://www.ato.gov.au/individuals/content.asp?doc=/content/12333.htm). For example, if your total income from your main job and second job or buisiness is higher than $180,000, you must pay 45% tax. More details, you should consult your accountant. Hope help you.

Regards,

Stephen

Individual income tax rates

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Residents

These rates apply to individuals who are residents of Australia for tax purposes (see Residency – overview for more information).

Tax rates 2009–10

Taxable income

Tax on this income

0 – $6,000

Nil

$6,001 – $35,000

15c for each $1 over $6,000

$35,001 – $80,000

$4,350 plus 30c for each $1 over $35,000

$80,001 – $180,000

$17,850 plus 38c for each $1 over $80,000

$180,001 and over

$55,850 plus 45c for each $1 over $180,000

The above rates do not include the Medicare levy of 1.5% (read Medicare levy reduction or exemption for more information).

Tax offsets reduce the tax payable. Tax offsets based on taxable income levels apply to a range of circumstances. For more information read About tax offsets.

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The following rates for 2010–11 apply from 1 July 2010.

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

Hey Stephen,

Thanks, that put it into perspective for me that it is based on the combined amount, however I will talk to an accountant but this at least takes a bit off my mind.