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.
PAYG
PAYG stands for ‘Pay as you go’ and it’s where an employer withholds the tax from an individual’s pay/income and pays it in installments to the ATO (Australian Tax Office). It helps the employee meet there end of year tax liability and is based on the expected annual income.
Your employer withholds the tax from an individual’s pay/income which is called PAYG (‘Pay as you go’) and pays it in instalments to the ATO (Australian Tax Office). It helps the employee meet their end of year tax liability and is based on the expected annual income.
Learn MoreFor the 2024-2025 financial year, if you’re an Australian resident and your annual gross income is under $18,200, then you don’t have to pay tax. Income that is $18,201 and over is levied at different rates, see below:
*$18,200-$45,000 - 16% on each $1 over $18,200
*$45,000-$135000 - $4288 plus 30% on each $1 over $45,000
*$135,000-$190,000 - $21,288 plus 37% on each $1 over $135,000
*$190,000+ - $51,638 plus 45% on each $1 over $190,000
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