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  • Profile photo of MareeaMareea
    Member
    @mareea
    Join Date: 2007
    Post Count: 1
    September 11, 2007 - 4:14 am

    Hi

    Just to let you know when you earn $100,000 you are not charged the top tax rate for the whole 100,000. The 2007-08 rates are

    1 – 6000   Nil tax
    6001 – 30,000  15c
    30,001 – 75,000  30c
    75,001 – 150,000  40c

    so I think if you calculate this out it comes to 27,000 tax on 100,000 plus your medicare levy.

    I hope this helps, you can go into the ATO's website and do a quick calculation on your own tax.

    Cheers

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