Talk:Income tax in Australia

Proposed Income Tax Rate for 2009-10

I have removed the information as it is not sufficiently cited; I cannot find any information on this apparent 90% tax anywhere at http://taxreview.treasury.gov.au, or anywhere else. Surely such massive reform would have been mentioned somewhere in the media? I don't think "proposed" information belongs on this page, at least until there is a decent amount of evidence it will become the real tax table for the year (eg. the Government makes an announcement). If the information is true it needs, at the very least, a reference to the page with this table. --Hew (talk) 09:37, 13 December 2008 (UTC)

Earlier tax rates

I think that an encyclopedia should have historical information not just the current situation, so please bring back the old tax rates and add more back into the past! You can't expect that the ato web site will keep this available, and if some one is off line they cannot get at it anyway. Graeme Bartlett (talk) 21:13, 9 March 2009 (UTC)

This sounds more like an appropriate topic for a list to me. Adding much more than two tables of tax history quickly clutters the page, and is of questionable importance to the topic. --Hew (talk) 11:46, 24 March 2009 (UTC)

I disagree. Having historical tax information is useful both as a practical matter in producing old tax returns and as a public policy matter seeing how the system has changed over time. If somebody has the time to add this then great. It is certainly not comparible to "list of one-eyed horse thieves from Montana". That said, it might be better placed in a new article, Historical Income Tax In Australia (say). In general, better to have too much than to little, for it is easy to skip irrelevant data. Tuntable (talk) 01:49, 21 July 2010 (UTC)

Section on High Effective Rates

Someone had written a completely un-sourced section on how they disagreed with policy against middle-class welfare. I removed it. Wikipedia is NOT for political spiels or opinions on taxation policy. —Preceding unsigned comment added by 118.209.14.21 (talk) 16:58, 13 March 2010 (UTC)

The multiple effective rates aspect is a major, unusual and often misunderstood part of the Australian Tax system, so the section is important. It is commonly discussed, I'll find some references and improve the text. No need for references for parts that are simply arithmetic on previous statistics. Pointing out quirks of a system is entirely appropriate, and many articles have explicit Criticism sections. I do not want this to read as a criticism but simply as a description as the system works. (I came to this page trying to do my own tax planning, which depends very much on this type of information.) Tuntable (talk) 01:44, 21 July 2010 (UTC)

questionable content

I have deleted the following statement: Combined with the $445 LITO (see above), children can earn up to $3,333?? per year tax-free, and are not required to lodge tax returns for this amount. Effective 1 July 2011 the LITO applies only to salaried income but not to investment income for minors. Some children and some incomes are not affected by the children income rates and receive the normal rate. Such as full-time/part-time employment income.

To my mind, the question marks don't belong in an encyclopedic article. Either we know the exact figure, or we don't. If we don't, I can see no reason to include it here. this is probably relevant: https://www.ato.gov.au/Individuals/Investing/In-detail/Children-and-under-18s/Income-of-individuals-under-age-of-18/?page=4 — Preceding unsigned comment added by 161.50.1.132 (talk) 06:06, 15 October 2015 (UTC)

Income tax for Minors

I find this section very misleading. It implies that if you are under 18 this is always the rate you pay.

But there's a lot of ifs and buts in it that actually mean that most minors will just be taxed at the normal rates.

These rates are to stop parents from trying to lower their taxable income by putting investments into their children's name. Income earned through part-time work is taxed at the normal rate.

https://www.ato.gov.au/Individuals/Investing/In-detail/Children-and-under-18s/Income-of-individuals-under-age-of-18/?page=4#Tax_rates_applying_to_the_income_of_minors

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October 2016 Individual income tax rates changes

As of 1st October 2016 the Individual income tax rates have been updated. The change basically changes the $80,000 threshold to $87,000. As these changes are not retrospective for the start of the year, this causes a few complications, which I don't think have been clarified yet. My belief is that you have to combine the tax tables for 1 July - 30 September & 1 October - 30 June weighted approperiately (1:3) which would give you a bracket between $80,001 & $87,000 at 33.625c as well as changing the existing $80,001 to $87,001. — Preceding unsigned comment added by 59.100.21.71 (talk) 22:05, 3 October 2016 (UTC)

Edit: I believe my understanding before was wrong. It is retrospective so the $87,000 applies from the start of the year https://www.ato.gov.au/General/New-legislation/In-detail/Direct-taxes/Income-tax-for-individuals/Targeted-personal-income-tax-cut/

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