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Old 30-07-2012, 09:42 PM   #6
GT0132
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Join Date: Apr 2007
Location: Miranda, NSW
Posts: 6,771
Default Re: online tax accountants?

The rates for 2011/12 were as follows

income up to $6,000 - NIL
$6,001 to $37,000 - 15% = $4,649.85
$37,001 to $80,000 - 30% = $12,899.70

Medicare levy = $80,000 x 1.5% = $1,200

so $4,649.85 + $12,899.70 + $1,200 = $18,749.55

Because your income was over $77k you will also pay the medicare levy surchage of 1% ($800 on top of the $1,200 above) if you were single wiuth no dependant children and did not have private health insurance
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