Tax System

[caoimhe]

Can anyone tell me how tax on employment is worked out in Adelaide
Do they have an equivalent ot our PAYE for employees or does everyone have to do thier own return at the year end.
Also curious to know what % of tax is paid i.e. after your personal allowance we have the 3 bands 10%, 22% & 40%
and do they pay an equilvalent to our National Insurance Contribution
Thanks

[Guzzler&Sas]

Hi,

Yes they have the equivalent of the PAYE for employees but even so along with everyone else you still have to submit a tax return, different tax bands check http://www.ato.gov.au/ and most employers in most cases pay the equivalent to your National Contributions in the form of Super Annuation

Guzzler

[caoimhe]

Thanks for the reply

[Rachiegarlo]

You get the first $6000 tax free. Then there are three levels of tax about 20%, 30% and 40 ish. It is compulsory to lodge your tax return. If it is straight forward you can do it online.They want to know if you owe them money, but it is nice to get money back from the tax department too. If you do it yourself you must lodge it between July1 and Oct 31. If you go through an accountant they have until april to lodge it for you. There are things you can claim against your tax to lower your income, like the cost of buying compulsory branded workwear and the cost of cleaning it.