Tax Rates (1 Viewer)

[scaryshark09]

How do you guys feel about current tax rates?
Are the rich paying too much tax? Are they paying too little?

 

[scaryshark09]

For more context,

- Those who earn $30,000 a year are currently taxed $2,242
- Those who earn $50,000 a year are currently taxed $6,717
- Those who earn $80,000 a year are currently taxed $16,467
- Those who earn $100,000 a year are currently taxed $22,967
- Those who earn $200,000 a year are currently taxed $60,667
- Those who earn $500,000 a year are currently taxed $195,667
- Those who earn $1,000,000 a year are currently taxed $420,667

 

[its_ace21]

when u mean "the rich should be taxed less", do u mean "taxed less" than what they are getting taxed now, or getting "taxed less" than other working class people

 

[scaryshark09]

when u mean "the rich should be taxed less", do u mean "taxed less" than what they are getting taxed now, or getting "taxed less" than other working class people

lol it means less than what they are currently being taxed
i dont think anyone would argue for the rich being taxed less than the poor

 

[KloppsAndRobbers]

Tax rates should be somewhat raised for the ultra-wealthy and lowered for the Middle and Upper Middle Class.

 

[temporarylol]

For more context,

- Those who earn $30,000 a year are currently taxed $2,242
- Those who earn $50,000 a year are currently taxed $6,717
- Those who earn $80,000 a year are currently taxed $16,467
- Those who earn $100,000 a year are currently taxed $22,967
- Those who earn $200,000 a year are currently taxed $38,467
- Those who earn $500,000 a year are currently taxed $195,667
- Those who earn $1,000,000 a year are currently taxed $420,667

woah, didn't realise tax was this much

 

[liamkk112]

high tax is good if it is actually used well, take some european countries for example where yes tax is super high but public transport, education, hospitals, etc are all free and super high quality as a result. i don't think australia is as good as those countries cough cough privitisation but i think paying a decent amount of tax is still good. imo we should leave tax as it is for now, especially for those earning <= 100,000-200,000 (increasing it for the rich is fine), since increasing it would not help with the ongoing cost of living crisis, and decreasing it wouldn't make much sense either since we also need government expenditure rn and the tax isn't crazy high right now to the point where decreasing it would have a lot of benefit

 

[its_ace21]

if they make the rich pay more taxes in the future it wouldnt affect me so its all good (this is a joke i hope no one gets offended)

 

[xoNat]

if they make the rich pay more taxes in the future it wouldnt affect me so its all good (this is a joke i hope no one gets offended)

But if you're my maid who's paying your salary bud

 

[its_ace21]

But if you're my maid who's paying your salary bud

u can pay me in cash so i can evade tax

 

[xoNat]

u can pay me in cash so i can evade tax

Cash is the best

 

[ExtremelyBoredUser]

Tax Evasion:

 

[scaryshark09]

woah, didn't realise tax was this much

yeah, if you earn 500k, you practically only have 300k after tax, and that's only enough for a mortgage of a pretty average house, with barely any money left over for food, education, car/travel, literally everything else.
to live comfortably in sydney, you really need to be earning at least 800k (so yeah, the only logical move is to leave sydney)

 

[its_ace21]

imma just live with my parents till i die

 

[scaryshark09]

imma just live with my parents till i die

not a bad option
if you take a mortgage/rent out of your financial responsibilities, we'd all be pretty rich

 

[carrotsss]

that's only enough for a mortgage of a pretty average house, with barely any money left over for food, education, car/travel, literally everything else.
to live comfortably in sydney, you really need to be earning at least 800k (so yeah, the only logical move is to leave sydney)

????? i can’t tell if ur joking or not but at 300k after tax you should be considering investment properties and stuff like that, if you aren’t comfortable on 300k then you need to learn how to manage money well, mortgages don’t cost that much. not everyone in sydney is top 1%

 

[carrotsss]

not a bad option
if you take a mortgage/rent out of your financial responsibilities, we'd all be pretty rich

shoutout to my parents for living in the middle of nowhere

 

[scaryshark09]

????? i can’t tell if ur joking or not but at 300k after tax you should be considering investment properties and stuff like that, if you aren’t comfortable on 300k then you need to learn how to manage money well, mortgages don’t cost that much. not everyone in sydney is top 1%

you'd be surprised how quickly a mortgage eats up your 300k.
ik you dont live in sydney, but this is the reality here. on a 30 year mortgage, most of what you pay back is interest also. like you pay 7 million for 3 million house

 

[scaryshark09]

i guess apartments are a cheaper alternative, but you still have to deal with strata fees and i would hate not having space and a backyard

 

[its_ace21]

"As of 27 August 2023, Australia's prime minister is paid a total salary of A$586,950. This is made up of the 'base salary' received by all members of parliament (A$225,750) plus a 160 percent 'additional salary' for the role of prime minister."

yea