1. 1 Taxation Press Ctrl-A ©2009 – Not to be sold/Free to use Stage 5 Year 9

2. 2 Taxable Income (1/5) Taxable Income = Gross Income + Other Income - Tax Deductions Tax Man taxable income The Tax Man allows you to reduce taxable income for expenses like uniforms End of Slide

3. 3 Taxable Income (2/5) Taxable Income End of Slide Margaret has a gross salary of $52,300 per annum. She has tax deductions of $3,700. Taxable Income = $52,300 - $3,700 = $48,600

4. 4 Taxation Tables (3/5) $55 000 Tax on $55 000 $4 200 = $4 200 $0.30 + $0.30 (55000 – 34000) x (55000 – 34000) $10 500 = $10 500 End of Slide

5. 5 Taxation Tables (4/5) $10 000 Tax on $10 000 $0 = $0 $0.15 + $0.15 ($10 000 – $6000) x ($10 000 – $6000) $600 = $600 End of Slide

6. 6 Medicare Taxation Tables (5/5) $55 000 Levy on $55 000 0.015 = 0.015 $55 000 x $55 000 $825 = $825 $14 000 Levy on $14 000 0 = 0 Medicare Calculator Medicare Calculator End of Show