Income tax rates in the world vs. Australia

[qldfrog]

Dear all, as promised, after Labour and Greens all complaining how we do not tax "the rich" enough here, I promised myself to find real figures about personal income tax rates, the ones affecting the rich bastards funding your NDIS, pensions increases, debt repayments and 50 billions AUD submarines

This reveal what I thought after traveling the world, it is very hard to find anywhere else in a remotely civilized country where we are slugged so hard.
I understand sales taxes etc can influence taxation charges but we have gst, most of the countries above have big discounts on the raw income before taxation, etc
Labour should be happy we can nearly compete with Sweden but sadly, our government does not offer anywhere near like Swedish services
I hope this could act as a wake up call on this country, but I doubt ...
Read and analyse, based on a few hours of web searches
If this does not show our leaders incompetence, what will....

 

[willy1111]

Dear all, as promised, after Labour and Greens all complaining how we do not tax "the rich" enough here, I promised myself to find real figures about personal income tax rates, the ones affecting the rich bastards funding your NDIS, pensions increases, debt repayments and 50 billions AUD submarines
View attachment 96428
This reveal what I thought after traveling the world, it is very hard to find anywhere else in a remotely civilized country where we are slugged so hard.
I understand sales taxes etc can influence taxation charges but we have gst, most of the countries above have big discounts on the raw income before taxation, etc
Labour should be happy we can nearly compete with Sweden but sadly, our government does not offer anywhere near like Swedish services
I hope this could act as a wake up call on this country, but I doubt ...
Read and analyse, based on a few hours of web searches
If this does not show our leaders incompetence, what will....

Appreciate the effort put into research.

Effective tax rate may also be a good thing to compare, ie in Oz 60k taxable income = tax of $12k = 20% effective tax rate and $200k income = tax of 67k = 33% effective tax rate.

Also what I would be interested in is where can one live/be a tax resident of and at what rate would CGT on Oz shares/dividends from an investment and share trading business point of view be? Ie if one chose to move to Switzerland or NZ and continued with Oz share activities from an investment and share trading view, how much tax would be paid.

The research may be beyond the effort you wish to put in

 

[qldfrog]

Effective tax rate was too hard to compute but most places i checked had a so called progressive taxation rate so , as here, you got offset,then various bands
If anyone wants to help, feel free but i doubt many country are actually taxing as much a 60kaud income as we do here, and not many the 200kaud either
You will not find this on the ABC...
If you are not an Australian tax resident, the problem is with the extra taxes slugged on your properties here, for the shares just get out of the asx and use nyse or others

 

[qldfrog]

Once you spend more than 6 months a year put of australia, you may become non resident

 

[qldfrog]

If anyone is interested in populating the effective tax rate, or add the company tax rate..another abysmal ranking for australia:
pm me and i will send you the current excel spreadsheet, if you do please make sure to include offset or deduction associated to what is considered income value
In any case the marginal tax rate and our awful ranking shows clearly we are not a place where it is worth working more, so the focus on Real Estate for wealth creation here
And so needs for immigration and its awful consequences and fake wealth growth

 

[dyna]

As the PPOR is no longer considered a CG Tax free asset for returning Aussie non-residents,they are now being advised by the best tax advisors,to sell it,on return and start over.

 

[qldfrog]

As the PPOR is no longer considered a CG Tax free asset for returning Aussie non-residents,they are now being advised by the best tax advisors,to sell it,on return and start over.

And the gov sorted this out by preventing aussies to get out or come back.

 

[dyna]

Once you spend more than 6 months a year put of australia, you may become non resident

Funny thing,it was the Liberal party that pushed this one through parliament.Naturally,Labor and our little friends,the Greens were all to happy to see the Lib's own constituents cop it in the neck. At least there was plenty of prior warning given but it still caused a lot of distress for those with the brains and initiative to try making a go of it overseas, having to decide to either, throw away a promising career or come home to the damned PPOR....and mediocrity.Thanks Malcom.

 

[qldfrog]

Funny thing,it was the Liberal party that pushed this one through parliament.Naturally,Labor and our little friends,the Greens were all to happy to see the Lib's own constituents cop it in the neck. At least there was plenty of prior warning given but it still caused a lot of distress for those with the brains and initiative to try making a go of it overseas, having to decide to either, throw away a promising career or come home to the damned PPOR....and mediocrity.Thanks Malcom.

Honestly, would i be youngervi would f.o asap.now retired, lower income so no tax issues and anyway no way to get out legally yet