June 25, 2021

Australia has a progressive income tax system. This simply means that higher income earners pay a greater proportion of their income in tax than low-income earners. It is achieved by applying a different rate of tax to each income band or “bracket”. The tax brackets and relevant tax rates applicable from 1 July 2020 are as follows: Tax bracket Tax rate (excl Medicare) $0 – $18,200 0% $18,201 – $45,000… Read More »Don’t let tax creep up on you