you can pick up a payg tax calculator at local newsagents – or you may be able to download from the ato.
if you are running from an abn, that changes things things heaps – all your costs can be deducted prior to calculating the tax (which reduces your taxable income). ballpark – about 30% of your net for company profits, wages if taken are taxed at normal payg rates. so theoretically – take wages (on paper) that keep you below the 30% payg tax rate then take the rest as company profits.
go see an accountant, they will be able to advise you best - their services are deductable :)
steve
From: "Taco Fleur" <[EMAIL PROTECTED]>
Reply-To: "CFAussie Mailing List" <[EMAIL PROTECTED]>
Date: Tue, 9 Dec 2003 18:06:45 +1000
To: "CFAussie Mailing List" <[EMAIL PROTECTED]>
Subject: [cfaussie] [OT] Tax
Sorry, for this really of topic post, I really need to find a calculator that calculates what I need to pay in taxes, and what money is left NET after everything is deducted.
Are there any such calculators?
I had a look at some government sites but they just give the formula, and I am bad with formula's (not to mention lazy).
So, let's for arguments sake say I could earn 80.000 a year, what is that weekly, or what is left yearly after everything is paid
- Taxes
- Super
- Other levies etc.
I'd be working with my Australian Business Number.
Thanks, I really appreciate any help on this one.
Taco Fleur
Tell me and I will forget
Show me and I will remember
Teach me and I will learn
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