Now my question is, when is enough actually enough? He doesn't contribute any taxes, he gets free housing, he gets plenty of low income benefits, he gets $500 dollars a fortnight from Centerlink under Austudy so what else does he want? Yes I know GST is a tax, so are you saying that we should get rid of GST and increase the tax for people on $80k or more? Any more tax on the high income earner will turn this country into a communist country. Everytime we run into budget deficit, the solution is to add more tax. GST tax, Carbon tax, Mining tax, Flood levy, tax, tax, tax. Tax on a $80000 income according to taxcalc is:
Base income:
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$80000.00
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Tax on income:
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$17547.00
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Medicare Levy:
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$1600.00
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Budget Repair Levy:
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$0.00
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Low Income Tax Offset:
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$(0.00)
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Total tax:
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$19147.00
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Now, that is nearly 20k they are contributing and on top of that, they are forced to have private insurance or pay another 1% of their gross income for medicare surcharge.
How is life like for someone on $80k
Now, let me give the "low income" earner a insight of what life is like for someone on $80k. Firstly, long hours and no overtime pay.
Secondly, some would still have hecs debt to pay off and they can range easily from $20k to over $100k
Thirdly, no free housing therefore renting or paying off mortgage, meaning paying roughly $2500 every month for a medium mortgage of $450k for 30 years. Note: any job loss will contribute to mortgage stress.
Let me work the sums for you,
TOTAL INCOME AFTER TAX: $60853.00
TOTAL EXPENSE:
- Health Insurance : $3000(Mandatory)
- Home Insurance : $1200
- Mortgage: $30000
- Car Insurance: $400
- Utilities: $3600
- Food: $7800 ($150 a week, so don't think lobster and fillet mignon)
- Council $2000
- Rego: $500
- Internet and phone(This is actually a requirement for work) $1000
- Fuel $2600 ($50 a week)
That works out to be $52100 a year in minimum expenses. That leaves $8753 a year. This does not include school fees, clothing, stationary, books, doctors, car repairs/services and many of life unexpected expenses.
People on $80000 are not exactly living the high life here. Its your life and choices and decisions you make in your life affects how you live your life. Do not expect other people to be paying for your life choices.
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