Positive plan to help housing affordability - Australian ...

Capital gains tax discount

When an individual sells an asset for a profit, they make a capital gain equal to the amount of profit on the asset.� They would then pay tax on that gain at their marginal tax rate.

Individuals, trusts are entitled to a 50% discount on the capital gain amount providing they have held the asset for more than one year.

For example:

Jane sells a property that she's...

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Website: https://www.alp.org.au

ATO Tax Rates 2017 - atotaxrates.info

�19c for each $1 over $18,200

�$37,001 to $80,000

�$3,572 plus 32.5c for each $1 over $37,000

�$80,001�to $180,000

�$17,547 plus 37c for each $1 over $80,000

�$180,001 and over

�$54,547 plus 47c for each $1 over $180,000

Levy on higher income earners

A Federal Budget 2014-15 measure applied a Temporary Budget Repair Levy of 2% to taxable incomes in excess $180,000, to take effect...

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Website: https://atotaxrates.info

Paying Taxes Reforms - Doing Business - World Bank Group

Doing Business Reforms

ENHANCING TAX COMPLIANCE SYSTEMS

Properly developed, effective taxation systems are crucial for a well-functioning society. In most economies, taxes are the main source of revenue to fund public spending on education, health care, public transport, infrastructure and social programs, among others. Tax policy is one of the most contentious areas of public policy. A large...

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Website: http://www.doingbusiness.org

Federal Insurance Contributions Act tax - Wikipedia

The Center on Budget and Policy Priorities states that three-quarters of taxpayers pay more in payroll taxes than they do in income taxes. [8] The FICA tax is considered a regressive tax on income with no standard deduction or personal exemption deduction. The Social Security portion of the tax is imposed on the first $117,000 in 2014, $118,500 in 2015 and 2016, $127,200 in 2017, and $128,400 in...

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Date: 2018-04-03 05:20:53
Website: https://en.wikipedia.org