Tax Freedom Day

by on 29 April, 2014

Happy Tax Freedom Day! That’s right, whatever you earn from here on in is all yours*!

So just how many days do you have to work to pay your income taxes?

*Note…we’re never really free from taxation you will always have 10% GST and other govt fees and charges to pay.

Taxable Income                               Tax Freedom Day

(Includes Medicare Levy)

$80,000                                           86 days or 28 March 2014

$180,000                                         116 days or 27 April 2014

Under the increased Medicare Levy (1.5% + 0.5% NDIS) + PM Abbott’s proposed “Deficit Levy (Tax)” of 1% ($80,000 Plus) to 2% ($180,000 Plus) you’ll have to work a few days more for uncle Joe.

Taxable Income                               Tax Freedom Day

(Includes ALL new Levies)

$80,000                                           91 days or 2 April 2014

$180,000                                         125 days or 6 May 2014

 

 

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