In particular we focus on getting the loan structure right the first time, choosing which lenders to use in the right order (yes this is important) and finally getting our clients the best deal possible.
The Australian Tax Office (ATO) collects income tax from working Australians each financial year.
For the 2023-2024 tax year, the first $18,200 you earn is tax-free. You'll then pay 19% on earnings between $18,201 and $45,000, 32.5% on earnings between $45,001 and $120,000, and 37% on earnings between $120,001 and $180,000. Anything you earn above $180,001 is taxed at 45%.
In the upcoming financial year 2024-2025 Australians will receive an additional tax cut because of the new government legislation Stage 3 tax cuts. They will look like this, the first $18,200 you earn is tax-free. You'll then pay 16% on earnings between $18,201 and $45,000, 30% on earnings between $45,001 and $135,000, and 37% on earnings between $135,001 and $190,000. Anything you earn above $190,001 is taxed at 45%.
