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.
Tax
Tax is defined as a portion of income paid to the government. Income tax in Australia is imposed by the federal government on the taxable income of individuals and corporations. Income tax offsets helps lower income earners who are Australian residents reduce their tax bill.
As Australians we enjoy access to a good health system, quality education and a variety of community facilities (for example, parks and playgrounds) that are supported through tax collections.
The Australian Taxation Office (ATO) collects theses taxes for the Australian Government to provide services, including:
- healthcare
- education
- defence
- roads and railways
- payments for welfare, disaster relief and pensions.
For the 2020-2021 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%.
Learn MoreYou can calculate your taxes by using the Income tax calculator 2022 or any income tax table which will provide the amount you will pay depending on your earnings.
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