How much flood levy do the Australians have to pay?

1 ANSWERS

1. Guest2825
   

   The Federal Government will impose a one-off levy to help pay for the flood recovery. Below are the key aspects of the levy which will help you calculate how much you have to pay:
   - A levy of 0.5 per cent will be applied on that part of an individual's income between $50,001 and $100,000.
   - A levy of 1.0 per cent will be applied on that part of the taxpayer's taxable income above $100,000.
   - Anyone earning less than $50,000 will not pay the levy.
   - People affected by the floods will not pay the levy.
   - A person earning $60,000 per year will pay just under $1 extra per week under the levy.
   - A person earning $100,000 per year will pay just under $5 extra per week under the levy.
   - The levy will apply only in the 2011-12 financial year.
   - It is expected to raise $1.8 billion.
   - Donations do not affect the levy.

   Report (0) (0)  |   12 years, 9 month(s) ago