Regret moving to Australia

[ilovechinesegal]

https://www.ato.gov.au/rates/individual-income-tax-rates/#Residents

It is tiered.

First 0 – $18,200 is not taxed at all

$18,201 – $37,000 taxed at 19% ( you pay $3572 if you earn $37,000 a year )

$37,001 – $90,000 taxed at 32.5% ( you pay $3572+$17,225= $20,797 if you earn $90,000 a year)

$90,001 – $180,000 taxed at 37% ( you pay $3572+$17225+$33,300=$54,097 if you earn $180,00 a year)


Every dollar earned above $180,00 you pay 45% and that is added to the $54,097 from the first $180,000.

So let's say someone earns $40,000 a year their taxable income is $37,000-$18,201=$18,799. That is then taxed at 19% $3572. The remainder $3000 is taxed at 32.5% ie $975. Hence total tax is $4547. Which means actual overall tax rate is 11.4%

If you earn $60,000 your total tax is $7797. Effective tax rate is 12.99%

If you earn $90,000 a year your total tax is $20,797. Effective tax rate is 23.1%

Is that really THAT BAD?

If you earn $120,000 a year ie $10k per month your total tax is $11,100+ $20,797=$31897. Effective tax rate 26.6%. $88,103 is after tax income. $7341 per month.

In sg if you earn $120,000 per year your total tax is $7950. Effective tax rate is 6.6%. After tax income is $9337.5 per month.

So between someone in Oz vs Sg both earning 10k a month salary after tax disposable income difference is $1996.50 higher for the Sinkie.

I think both would own a car. The sinkie probably will need to pay $20k or more every 10 years on his COE.

So in the end is about the same lah. Unless you dont own car in sg lah.

Oh and I forgot....sinkie got to pay CPF correct? 20% cut out every month. So the sinkie who earn 10k a month also got to contribute 2k to CPF. Meaning his actual money in pocket is only $7337.50 per month. Which is less than the Ozzie. Well we can say year can use CPF pay for house. Also employer top up 17% also. But your CPF money yours or not?

You go figure lah.

Once aus become chinese majority, the tax would be lower! As chinese dont really depend on govrt financial aid! Chinese depend on ourselves! I hear my indon chinese frien told me that his granddad came to indon with one baggage but after that end up having alot of houses with luxury stuffs!

 

[nightsafari]

not ipa. pilsner. this one.
View attachment 77522

yah lah. the pils...

 

[hofmann]

He means Republican. Must be the dam autocorrect.

That's not a religion lah.

 

[Asterix]

That's not a religion lah.

it is in my book and my book is the only one that counts

 

[nayr69sg]

it is in my book and my book is the only one that counts

Actually to simplify it you worship $$$$.

 

[Asterix]

Actually to simplify it you worship $$$$.

Wrong, to simplify, I worship freedom. And I don’t appreciate others taking away my freedom (to spend the fruits of my labour and more importantly my time in whatever way I deem fit), especially for what they, in their liberal minded ignorance, deemed to be the public “good”. Instead of raising taxes to fund transfer payments to undeserving and lazy white trash, I prefer it if they enact a law to require taxpayers to donate to charities of their own choice.

For example, if $5,000 per head is the cost of providing truly essential public goods and services (eg defence, police, road construction, etc - sick care is personal in nature and definitely not a public good), then every family will pay $5,000 per head regardless of their income or how many in the family are actually working. If you earn say more than $100,000, on top of this basic “existence” tax, you are required to prove that you have donated say 10% of your income to worthy causes of your choice. Otherwise, you pay that 10% as tax to the gahbrament and let them decide how to spend it. If you earn say more than $200,000, then it becomes 20% and so forth.

My guess is that most people, including liberals like yourself, who supposedly don’t worship $$$, will choose to donate the 10% or 20% or whatever that is on top of the basic $5,000 per head existence tax, to charities of their choice then to let the gahbrament use it to fund transfer payments to useless white trash.

The basic $5,000 per head tax for simply existing will surely incentivise the lazy to actually find work and the poor to stop reproducing. Under my proposal, the moment you have a baby, your tax increase by $5,000 per year until the baby starts work and paying his or her own “existence tax”.

 

[Asterix]

Wrong, to simplify, I worship freedom. And I don’t appreciate others taking away my freedom (to spend the fruits of my labour and more importantly my time in whatever way I deem fit), especially for what they, in their liberal minded ignorance, deemed to be the public “good”. Instead of raising taxes to fund transfer payments to undeserving and lazy white trash, I prefer it if they enact a law to require taxpayers to donate to charities of their own choice.

For example, if $5,000 per head is the cost of providing truly essential public goods and services (eg defence, police, road construction, etc - sick care is personal in nature and definitely not a public good), then every family will pay $5,000 per head regardless of their income or how many in the family are actually working. If you earn say more than $100,000, on top of this basic “existence” tax, you are required to prove that you have donated say 10% of your income to worthy causes of your choice. Otherwise, you pay that 10% as tax to the gahbrament and let them decide how to spend it. If you earn say more than $200,000, then it becomes 20% and so forth.

My guess is that most people, including liberals like yourself, who supposedly don’t worship $$$, will choose to donate the 10% or 20% or whatever that is on top of the basic $5,000 per head existence tax, to charities of their choice then to let the gahbrament use it to fund transfer payments to useless white trash.

The basic $5,000 per head tax for simply existing will surely incentivise the lazy to actually find work and the poor to stop reproducing. Under my proposal, the moment you have a baby, your tax increase by $5,000 per year until the baby starts work and paying his or her own “existence tax”.

Useless white trash, give them an inch and they take a yard

 

[nayr69sg]

Wrong, to simplify, I worship freedom. And I don’t appreciate others taking away my freedom (to spend the fruits of my labour and more importantly my time in whatever way I deem fit), especially for what they, in their liberal minded ignorance, deemed to be the public “good”. Instead of raising taxes to fund transfer payments to undeserving and lazy white trash, I prefer it if they enact a law to require taxpayers to donate to charities of their own choice.

For example, if $5,000 per head is the cost of providing truly essential public goods and services (eg defence, police, road construction, etc - sick care is personal in nature and definitely not a public good), then every family will pay $5,000 per head regardless of their income or how many in the family are actually working. If you earn say more than $100,000, on top of this basic “existence” tax, you are required to prove that you have donated say 10% of your income to worthy causes of your choice. Otherwise, you pay that 10% as tax to the gahbrament and let them decide how to spend it. If you earn say more than $200,000, then it becomes 20% and so forth.

My guess is that most people, including liberals like yourself, who supposedly don’t worship $$$, will choose to donate the 10% or 20% or whatever that is on top of the basic $5,000 per head existence tax, to charities of their choice then to let the gahbrament use it to fund transfer payments to useless white trash.

The basic $5,000 per head tax for simply existing will surely incentivise the lazy to actually find work and the poor to stop reproducing. Under my proposal, the moment you have a baby, your tax increase by $5,000 per year until the baby starts work and paying his or her own “existence tax”.

I am no liberal! And I hate paying taxes. Less tax better.

But I have been on the side of working population that pays low taxes before too. As my income started to increase some colleages told me dont work so much. Work less so that you pay less taxes.
My wife told me rubbish lah. You work more you still earn more money even if tax rates are higher.

I like your ideology. However donations are voluntary. What is more likely to happen is people wont donate. I certainly am not one who donates. And that's because I already pay my taxes.

If the donations are made compulsory then it is just the same as tax.

Being able to choose who to pay taxes to? That will cause problems because the government does need money to provide services in general.

In the end I recognize that government needs to pay for certain services we take for granted.

But I see your point. I hate taxes too. But not enough that I would want to stay in Singapore just because their taxes are low.

 

[Asterix]

I am no liberal! And I hate paying taxes. Less tax better.

But I have been on the side of working population that pays low taxes before too. As my income started to increase some colleages told me dont work so much. Work less so that you pay less taxes.
My wife told me rubbish lah. You work more you still earn more money even if tax rates are higher.

Yes, you are not a liberal. You are hen pecked, always listen to wife, which BTW is a characteristic of many Sinkies

I like your ideology. However donations are voluntary. What is more likely to happen is people wont donate. I certainly am not one who donates. And that's because I already pay my taxes.

If the donations are made compulsory then it is just the same as tax.

Under my proposal, donations are not compulsory. If you think autistic children are more worthy of your $$$ than useless white trash, then you can donate to a relevant charity, or split it up between various causes that appeal to your values. If you lazy to do the research, then default is donate to gahbrament to do as the lazy and stupid masses who vote in corrupt politicians want. Under my proposal, each taxpayer has a choice. Only existence tax has no choice, $5,000 per head, don’t want to pay, then die. Dead people do not need to pay existence tax

Being able to choose who to pay taxes to? That will cause problems because the government does need money to provide services in general.

The $5,000 per head existence tax will take care of truly essential government services that everyone uses (military, police, roads, bridges, airports, etc but not sick care so if you get lung cancer because you chose to smoke then tough luck). A per head tax will incentivise the lazy to work and the poor to stop reproducing. Ok, if you are over 65 and chose to retire, then this existence tax is waived. $$$ worshipping capitalist also have a heart.

In the end I recognize that government needs to pay for certain services we take for granted.

But I see your point. I hate taxes too. But not enough that I would want to stay in Singapore just because their taxes are low.

That’s why I keep my SG passport! Solely for the purpose of use in opening bank and brokerage accounts outside of Aus, CA, NZ, etc. As far as the bank or broker is concerned, I am a SG citizen and they only notify the SG IRD. As far as SG IRD is concerned, I am not resident in SG and my travel records will prove it. None of my trading income is sourced in SG. I may trade from residences in Aus, CA, NZ, etc, but the accounts are not maintained there and the bank or broker is not aware of my other residences. Trading income can be earned from anywhere that has a good, fast and reliable internet connection. And of course such trading income is never remitted to high tax jurisdictions.

 

[nayr69sg]

Yes, you are not a liberal. You are hen pecked, always listen to wife, which BTW is a characteristic of many Sinkies



Under my proposal, donations are not compulsory. If you think autistic children are more worthy of your $$$ than useless white trash, then you can donate to a relevant charity, or split it up between various causes that appeal to your values. If you lazy to do the research, then default is donate to gahbrament to do as the lazy and stupid masses who vote in corrupt politicians want. Under my proposal, each taxpayer has a choice. Only existence tax has no choice, $5,000 per head, don’t want to pay, then die. Dead people do not need to pay existence tax



The $5,000 per head existence tax will take care of truly essential government services that everyone uses (military, police, roads, bridges, airports, etc but not sick care so if you get lung cancer because you chose to smoke then tough luck). A per head tax will incentivise the lazy to work and the poor to stop reproducing. Ok, if you are over 65 and chose to retire, then this existence tax is waived. $$$ worshipping capitalist also have a heart.



That’s why I keep my SG passport! Solely for the purpose of use in opening bank and brokerage accounts outside of Aus, CA, NZ, etc. As far as the bank or broker is concerned, I am a SG citizen and they only notify the SG IRD. As far as SG IRD is concerned, I am not resident in SG and my travel records will prove it. None of my trading income is sourced in SG. I may trade from residences in Aus, CA, NZ, etc, but the accounts are not maintained there and the bank or broker is not aware of my other residences. Trading income can be earned from anywhere that has a good, fast and reliable internet connection. And of course such trading income is never remitted to high tax jurisdictions.

You have done very well for yourself. Very good.

You are among the elite and are the envy of many including myself.

In fact I would say of all the SBF bros you are probably the richest and most successful.

Credit where it is due.

Actually it sounds like you dont have to pay any taxes at all so that is awesome!

I wish I could be like you. Hopefully my kids can all be traders in future like you.

 

[krafty]

oz is still not home to me cos' it's a white men country. other than this, life is good here.