On January 21, 2016 at 10:23, rmalbers said...
Get them there BEFORE you tell them about the tax situation! I also heard that they tax deposits into your accounts (at a fixed rate) at the bank so people that get paid in cash hoard large amounts of cash in their houses instead of putting into their bank accounts, it that really true? (Someone that lives there told me that.)
Not true. Your deposits are not automatically taxed unless you have not provided the bank with your tax file number. Even then you can claim that tax back if it not deemed taxable money. So long as you are not trying to cheat the tax man with fake accounts you have no problem. If you do cash business and don't want to pay tax, buy a safe.
Our tax burden here in Oz is as follows:
0 – $18,200
Nil
$18,201 – $37,000
19c for each $1 over $18,200
$37,001 – $80,000
$3,572 plus 32.5c for each $1 over $37,000
$80,001 – $180,000
$17,547 plus 37c for each $1 over $80,000
$180,001 and over
$54,547 plus 45c for each $1 over $180,000
There is also no tax on any kind of gambling winnings here. If you win lotto for example you get the whole lot tax free.
