Re: Living in JB 3 (Johore)
Sorry ginfreely, wrong info, it is 46.5%, info from ATO website
http://www.ato.gov.au/individuals/content.aspx?doc=/content/12333.htm&mnu=42904&mfp=001/002
This is provided you have paid for your own private healthcare, otherwise you will be slapped with another thingy called medicare levy surcharge
Medicare levy surcharge
The Medicare levy surcharge is in addition to the Medicare levy. You may have to pay if you or your dependants (including your spouse, even if they had their own income) did not have an appropriate level of private patient hospital cover for the whole year and your income was above a certain amount.
In conclusion, Australia is not that glamorous afterall. Being an Asian, I still prefer Asia and choose to live and retire in Asia. Just my personal point of view.
Just curious, what kind of salary get taxed 48.5%? Last time I saw Australian staff payroll and recall most of the employees earning from 3-4k to around 8k AUD get taxed 20 to 30 something percent only. Some more they have this scheme like our SRS but with no maximum cap meaning technically they can contribute 100% of their salary and hence pay zero percent income tax - that is what i was told by one Australian employee there.
Sorry ginfreely, wrong info, it is 46.5%, info from ATO website
http://www.ato.gov.au/individuals/content.aspx?doc=/content/12333.htm&mnu=42904&mfp=001/002
This is provided you have paid for your own private healthcare, otherwise you will be slapped with another thingy called medicare levy surcharge
Medicare levy surcharge
The Medicare levy surcharge is in addition to the Medicare levy. You may have to pay if you or your dependants (including your spouse, even if they had their own income) did not have an appropriate level of private patient hospital cover for the whole year and your income was above a certain amount.
In conclusion, Australia is not that glamorous afterall. Being an Asian, I still prefer Asia and choose to live and retire in Asia. Just my personal point of view.