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Budget 2008 - marginal tax rates

Discussion in 'Accounting, Tax & Legal' started by Nigel Ward, 14th May, 2008.

  1. Nigel Ward

    Nigel Ward Team InvestEd

    Joined:
    10th Jun, 2005
    Posts:
    1,172
    Here are the rates to apply going forward taken from
    Statement 1 - Budget Overview - Working Families Support Package


     
  2. austing

    austing Well-Known Member

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    5th Jun, 2006
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    Location:
    north maleny
    Hi Nigel,

    thanks for that.

    I read an interesting article today. In six years time what with higher inflation leading in increased wages/salaries many of the so called working class (ie < $150,000) may well have joined the rich elite given that the upper threshhold of $180,000 will stay the same. Ah how governments love bracket creep.

    Cheers - Gordon
     
  3. Nigel Ward

    Nigel Ward Team InvestEd

    Joined:
    10th Jun, 2005
    Posts:
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    Maybe the comprehensive* tax review will address the lack of indexation of brackets once and for all...

    *Note - super and GST are "off limits" so query how comprehensive it will be...;)

    Cheers
    N.
     
  4. Glebe

    Glebe Well-Known Member

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    15th Aug, 2005
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    Location:
    Sydney, NSW
    Thanks for that Nigel.

    I don't believe tax brackets should be indexed (ie indexing of incomings) unless the budget for each department is also indexed (indexing of outgoings).

    Not gonna happen nor should it.