It is time to file our tax here so I will take the opportunity to share with Singaporeans about this yet again. I believed you should have come across many Singaporeans who cried, "Move to Australia good meh? Tax so fucking high. I don't want to be taxed 45%." For some reason, this idea somehow spread like wildfire through the generations. It seems that most Singaporeans have taken this as the truth.
Of course, that claim is far further from the truth. From my previous post [link], I shared how working over-time increased my pay by 65% for the previous fortnight. (I'm paid fortnightly) So I took a look at how much more I was taxed as compared to my usual pay. I found that I was taxed 29.5% for this paycheck, despite the 65% increment. If you can work that out, that actually mean even if I find another job that pays me 65% more on a permanent basis, I will still pay no tax more than 29.5% of my annual income. I could have attach my payslip here to prove my claims but I see no point sacrificing my privacy for thick skulls who choose to believe what they want. Besides, if you are smart enough to work backwards, I have revealed enough information for you to know how much I'm being paid.
My tax on my normal salary is at a much manageable percentage at less than 20%. From a Singaporean's point of view, you may still find this very high. You may even call me a low-wage pissed poor worker in Australia. Yet despite the fact about my low wages and high tax, I am still coping comfortably financially with my wife staying at home full time to look after my young daughter. I supposed that is good enough for me, if not for you.
Will my situation be so miserable if I am being taxed at the legendary 45% rate? I will not mince my words here. Only dumb Singaporeans living in Australia will lament at being taxed 45%. If there is any, I'll gladly swap places. Take my case for example, in order for me to be taxed 45%, my current salary will have to triple or quadruple in order for me to hit that level of tax bracket. Even after the whooping 45% tax, I will still have more than $40,000 of disposable income per annum than my current situation. You have to be insane to moan about that. As a perfectly rational person, I wish I can be taxed 45%.
For the benefit of Singaporeans, who are not used to calculating salary in annual terms, I'll be kind today to convert Australia tax rate (2014) to a monthly salary range to let you better visualise it.
| Salary ($ per month) | Tax (lowest range) | Tax (highest range) | ||||
| 1,516 | 0.0% | |||||
| 3083 - 6,666 | 9.0% | 21.9% | ||||
| 6,667 - 15,000 | 21.9% | 30.3% | ||||
| 15,001 - 19,167 | 30.3% | 45.0% | ||||
As we can see, in order be to taxed 45% off my income, I need to be earning $19,000 a month. After tax, I will take home $10,541 per month. Compare that to someone earning $3,000 a month paying a tax rate of 9%, taking home $2,730, will you be complaining about paying a 45% income tax? I know I wouldn't be. All you accounting nerds out there can feel free to audit my calculations.
So do you still think everyone pays 45% of their income to the taxman in Australia now? Perhaps you should share this.
Australia's tax rate is reasonable just like NZ. There are other countries e.g. Europe and certain parts of North America which are taxed higher than AU.
ReplyDeleteHe's lying. Tax is 75% here in Oz. Don't come. Fuck off, Oz is full....
ReplyDeleteYou are almost correct with the hidden taxes. Take a look here, the real facts from the local:
Deletehttp://www.heraldsun.com.au/news/victoria/australian-workers-earning-over-80000-set-to-feel-debt-tax-pain/story-fni0fit3-1226898860824?nk=e44e6615f602c640afe32eea0ed3dd75
$800 a year is 1% more to the 80 grand worker. Please, if you use this as a basis to prove i'm lying, then check out those who claim everyone pays 45% tax in Australia. Touch your heart, are you paying anywhere near this percentage?
Delete@Sgtshirts,
DeleteWhat Nick surprises is Correct.
Maybe he's unaware that his Employer has done him a good job by claiming the substantiation exception Tax .
For the substantiation exception in Subdivision 900-B of the Income Tax Assessment Act 1997 (ITAA 1997) for the 2012-13 income year in relation to claims made.
Overtime meal allowance expenses for food and drink in connection with overtime worked and where a meal allowance has been paid under an industrial instrument.
For overtime meal expenses to be considered under the exception from substantiation, the meal allowance must be a bona fide meal allowance,overtime meal allowance expenses is $27.10 per day excluded from Tax.
Many imigrates unaware of Food and drink exception from Tax.
B'fast 24.35
Lunch 27.35
Dinner 46.70
Paid or payable under a law of the Commonwealth or of a State or Territory, or an award, order, determination or industrial agreement in force under such a law (section 900-60 )
It's a Matters on how well you prepare your income tax return claims.
This exluding the Travel Allowances if he's required for Job to various state.
For the work done for Saturday or Sunday as Overtime works
Deletethis shall fall as following :
B'fast 24.35
Lunch 27.35
Dinner 46.70
No claims can made for Normal Working Days....take note!
I guess this depends on your current situation, however, it might not be better for a middle income earner despite we are not being taxed at 45% flat. It will be different story if you own a property and any other loans. For me, it's not all about net income, it's all about throwing so much money to the taxman and they don't really spend the tax payer money wisely. I have the same feedback from the local. So I must admit that the tax is high here.
ReplyDeleteAs for Nix, I agree with you that you are better off paying the tax at your current situation. (h)
Donald, try moving to Singapore and see if you will be financially better off, being taxed a lot lower, thus no hard feelings about not getting anything back in return from the tax man. Tell the locals who gave you the feedback to consider that as well.
DeleteYes, as for my case after staying 2 places for about the same years, I can see myself would be financially better off in Singapore than here as long as I working for PAP.
DeleteDonald,
DeleteMaybe the confusion arise between the Normal Working hours Tax and Overtime Claiming tax.
the Rest you're Right too about the highest 47% Tax.
The good thing is i do not work overtime neither in Australia or Singapore but I still find i have more disposable income after tax back in Singapore. Because over here, if you have a mortgage (not investment) and cars (must have in OZ) you would be paying heaps out of your pocket. All the utilities and public transport costs, insurance, council and water rates have increased drastically as compared to a few years ago. And this is not the end, all these will cause chain reaction and pass it down to consumer.
DeleteIf I have to sell my soul by working for the devil, I'd rather be poor. Seriously dude, if you have so many complains about Australia and think Singapore is a much better place, do yourself a favour by moving back there. Why subject yourself to torture?
DeleteNope. I am not regret at all. In fact, it was a great experience leaving abroad. At least, I ever lived in many countries including Malaysia, NZ, Singapore and lastly Australia to experience the real lifestyle and not just hearsay from other people only. Actually, the best place to stay was Auckland, NZ but that was 15 years ago.
DeleteWell, every country has its own pros and cons as long as it suits your expectation then that's the best.
Precisely, I want to let the Singaporean know that if you are having a good life and live comfortably in Singapore, be contented do not look elsewhere. In your case, you are rather be poor and not to work in sg then of coz that is the best option to live and work permanently in Perth.
DeleteRather be poor? I'm much richer than I was in Singapore in every sense of the word. I'm not sure which Singapore you are talking about and what you pointed out is a very big if. Conditions have changed drastically in the past 5 years in Singapore. With all due respect, I believe I'm much more attuned to an updated reality.
DeleteSorry I have to re-phrase that you are richer than you were in sg. The min wage does help a lot in Australia.
DeleteDonald,
DeleteI too love Auckland at time but crime rate there, wasn't much different if to compare with Perth, I guess ,I like the big signage phrase at Auckland Queen street,say "Credit is limited to 5ct".
Just a bit correction here, the highest bracket is 49% due to extra levies ,
ReplyDeletehttp://www.afr.com/p/national/top_rate_nation_oecd_would_make_VgqkALrQY8BEAPEDigQD8I
Top 8 highest in the world.
SYDNEY - Australian police have charged a woman for racially abusing passengers on a train after a video recording her tirade was posted online and went viral, sparking a social media backlash.
ReplyDelete"The 55-year-old, named by Australian media as Karen Bailey, was arrested late Thursday after allegedly launching an expletive-filled rant at young children and an Asian woman during a Sydney train journey.
New South Wales police said she was charged with offensive language and will appear in court later this month.
Bailey started to scream at two children aged seven and 10 after she boarded the train, telling their mother to "getting your fucking bogan children off the seat", the mother, Jade Marr, told the Newcastle Herald.
"It was unbelievable to think somebody would say those things and act like that," Marr said.
The Australian slang term "bogan" roughly translates as "trashy".
Bailey then turned her attention to other passengers as they filmed her outburst, telling a man beside an Asian woman that "he can't even get a regular girlfriend, he's got to get a gook".
The term gook is a disparaging term to describe Asians. Bailey also mocked the Asian woman's accent and pulled back her eyes to ridicule her features.
The video, which was posted on YouTube by a passenger on Wednesday, had been viewed more than 250,000 times by Friday morning and attracted almost 1,000 comments.
Most of the comments criticised Bailey for her outburst, although several were supportive of her remarks.
Australia's Race Discrimination Commissioner Tim Soutphommasane said on Twitter that "there is no excuse for acts of racial insult, humiliation and intimidation".
"When confronted with such conduct, everyone should consider a response, including reporting it to a relevant authority," he wrote.
Bailey told media group Ninemsn she was having a "really, really rotten day" and "it's awful what I said to that woman, I do agree".
"There's no excuse to rant at people like that," she said. "It's awful and I wouldn't wish it on my worst enemy, regardless of any race." Bailey initially gave her name as Sue Wilkins to passengers and some media outlets once the video of her rant went viral.
The incident came two years after a French-speaking woman singing on a Melbourne bus was told by a man to "speak English or die" in another video posted on the Internet that went viral.
Two Chinese students were burned, beaten and racially abused on a Sydney train in the same year, sparking an uproar on China's social media sites".
Well the Facts will always "Remains" anywhere you're It's global issues this another consideration to those who has the Pull factors and Push Factors reservation thoughts.!
Racism is inevitable everywhere so have to live with it.
DeleteIn Oz, people pay direct taxes. In Sg, people pay indirect taxes e.g. COE, ERP, excessive rents, GST on basic stuff.
ReplyDeleteYes, I know. Don't have to repeat so many times. I don't own a car what's the point with those indirect taxes unless you say if you don't have a car, you are not a man that's different story LOL
DeleteIts sad to know that there are still people who think that they do not pay coe/erp if they do not own a car. The reality is, so long as one consumes in sg, that person pays some sort of coe/erp. Costs are all triggered down to the end consumers for any business to stay afloat.
DeleteWe leave our mother country in search of a better life. Some find it, some don't. We just have to take the good with the bad. Happiness & contentment can't be found without, only from within.
ReplyDeleteFeeding the troll? Why, Nix? Why?
ReplyDelete