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No one pays nearly half their pay in tax!Quote:
Originally Posted by PAT303
Maybe you pay "nearly half" of a "portion" of your earnings in tax. That's why there are scaled tax rates, whether they are fair or not.
I too grew up in a family home with an outside dunny and one bathroom between 7 of us. I am now retired and consider myself "fortunate" not lucky :) and I have nowhere near what "experts" think is an "adequate"amount to earn a pension from.
46 cents in the dollar plus medicare surcharge plus not being eligible for any benefits in any way,so yes I would call it very close to half my pay.I do live in a safe country and I'm free to go anywhere I like but it's because we made it that way,luck had nothing to do with it. Pat
Woohoo top 1%
30 years of working my arse off,
No vices except alcohol, women, boats and land Rovers :angel:
46 cents ++, in the dollar for a high salary earner, Plus 10 % GST on most of whats left. that's close enough to 50% for me, though I'm not an accountant. But its better than it used to be, 67c in the dollar once. Having said that the Australian taxation system probably created more millionaires than it stopped, by encouraging people to spend money on investments rather than give it to the government. :D.
Australia is still the lucky country IMV, and as said earlier a lot of our good fortune is due to hard work. But we are blessed with a huge country full of natural resources and good farmland, and a relatively small population, and we have a good, ( & very expensive) government system, separate from religion.
But we need to keep focused on work ethic to stay lucky, and not develop the nanny mentality where its always someone elses job to look after us and our family. The worrying thing for me is the "level playing field", its a sham, if its a level playing field how come america has sugar and beef quotas?. Whats level about people is asia working for $ 200- 400 dollars a month, 6 days a week.
We buy everything from overseas, what will our children do for jobs? Join the "service industries"? Servicing who? if no one has a job so they can pay for "services".
We spend some time in Asia from the not so well developed, ( Vietnam, Malaysia) to the advanced (Korea, Singapore )etc, and the interesting thing for me is "postcode pricing", the same consumer items can be bought in all those countries, and Australia. There's nowhere in the region where they are more expensive than in Australia. ( cars excepted in some countries due to very high taxes to control capital outflow). In some countries the same goods are less than half price. Toiletries, white goods, car care products, sauces, motorscooters. In Korea and Singapore, its' not unusual to see Australian wines on the shelves the same price or cheaper than in Aussie.
I'm no accountant, but something doesn't add up there. :confused:
Quote:
Originally Posted by Mick_Marsh
Good one Bro',
[ame]https://youtu.be/gkEe2sOFpZg[/ame]
[ame]https://youtu.be/1Vwo58MfwDs[/ame]
And I think we can be sure the top 1% do not drive defenders, so here's to the rest.
[ame]https://www.youtube.com/watch?v=Xe1a1wHxTyo[/ame]
You forgot the gst tax, so your over 50%Quote:
Originally Posted by PAT303
The fact a pension / welfare exists show how lucky we are
Come to Png, I will show you poverty
On a serious note, the Oakey beef processing plant on the Darling Downs wants to double its production taking the work force from 750 to 1300. Oakey beefs Japanese owners are preparing to invest $60 million on the project. They want the federal & State Governments to stump up $ 2.5 million each - to reopen the railway sidings at Oakey, to enable trains to deliver there and load up with packaged meat to take to Brisbane for export.
This cost would also include improvements at several locations on the rail corridor- Charleville , Morven, & Roma- to enable cattle to be loaded on trains between Quilpie & Oakey. Mr Pat Gleeson says " The upgrade would also allow Oakey beef to load packaged meat on to trains to the Port of Brisbane for export." The lucky country? Perhaps for those of us old timers. The young ones in this country? As Oaky beef general manager says " The government says they want jobs, we can give them jobs" We should watch this closely.
https://atotaxrates.info/individual-...ax-rates-2016/Quote:
Originally Posted by PAT303
Amazes me how so many people are under such a misapprehension.
47 cents in the dollar does not take effect until your earnings pass $180000. ;)
Isn't the average actual tax paid about 30%?
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