The top income tax bracket in Australia includes all incomes over $181,000 and is taxed between 30.3% and 45%. Individuals making $180,000 are taxed $65,000 plus $.45 for each $1 earned over $180,000. An individual making more than $500,000 would pay a tax rate of 59% in Australia, 57% in the UK, 60% in the US and 73% in Brazil.
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@4VPG4NV4yrs4Y
How do you determine rich? Its not about salary really is it. The filthy rich do not receive standard pay and wages as normal workers do. It's these people that must be taxed and that includes all they receive and spend as corporate expenses . The normal worker gets taxed on perks and allowances. The filthy rich get away without any issue on their perks and out of pockets!
@4SZP3NV4yrs4Y
Yes, but also take into consideration the number of children supported in the household
@9K8PHGN1yr1Y
Taxes should vary based on income/tax bracket. The rich will naturally be paying more than those in lower tax brackets. The rich should not receive additional tax increases.
@B3QZC9Z2 days2D
Increase tax on consumption. User pays more. Lower income tax. Incentivise large business if they employ more people. Increased tax will push more offshore.
@B3QG99Y3 days3D
Should be means tested, but wealth itself is only one part of a much bigger equation; How many hours does a person have to work in order to earn the level of wealth they have? How is it offset by assets and expenditures related to their income? How far above / below a good, liveable, comfortable wage / salary does the overall position put them? Is that remuneration projected to last a significant amount of time, or terminate in the near future?
@B3JKH9H1wk1W
This isn't the issue, rich or middle class, you need to pay tax at a percent from profit made. The issue is what is being taxed outside of profit made. The micro transaction on very hand over is too much. 1 item that gets to me has already paid tax 3-4 times before me. From manufacturing ingredients to onselli g to companies to distribution to vendors and then the customer.
Also companies and corporations need to be scrutinised a lot harder.
@B3FDJZB2wks2W
No and reform the tax system to ensure that people aren’t being excessively taxed. People should PAY LESS TAX.
@B3F9HZ52wks2W
Lower taxes all round after starting a sovereign wealth fund that funds things our taxes would usually go towards
@B3F4VYH2wks2W
Yes, but single income families should have both tax free thresholds applied to the sole source of income
@B3DYS432wks2W
id want to look more into the tax bracket and compare the difference of those who make more and make less
Decrease taxes on lowest income holders and add more high tax brackets to tax the rich a large companies properly
@B39CPKJ2wks2W
No, but the level of taxation must reflect the income level. Such as those on a much lower income shouldn’t be taxed as much as those in a much higher income. But no need to raise it and target anyone unfairly just because they earn more
The rich pay a large portion of the countries income tax, they are essential. They won’t want to live in a country where they are being taxed highly. Large corporations should be rewarded with tax cuts for manufacturing in Australia but amendments might need to be made to remove tax loopholes for the rich.
@B33ZG2T3wks3W
Income tax should decrease for citizens and permanent residents regardless of income bracket, while increase or remain the same for other foreign nationals. Large corporations should have no exemptions for tax, and remove all tax loopholes.
@B33DX2W3wks3W
Lower taxes for individuals. Greatly increase taxes for large corporations, mining companies, and overseas companies.
@B32F95F4wks4W
Lower tax rate for the poor and middle class significantly, lower the rich as well, however severely limit the loopholes available and remove ALL loopholes for large corporations; especially overseas ones.
@B2YTNYP4wks4W
Raise taxes on the rich and remove loopholes and raise tax for large corporations whilst also lowering tax rates on lower income earners (below 100k)
@B2YRBJX4wks4W
Yes, and there should be a heafty fine if it's proven that they are avoiding paying tax by moving money elsewhere
No, but they should increase the tax rate on companies who pay executives more than $4000 per year, no executive is worth millions of dollars per year
Yes and create more tax brackets to effectively tax high earners above the current maximum earning threshold
Removal of tax loopholes and a consideration of corporation tax is important. Tax increases for extreme wealth should be considered if net effect is low to greater wealth equality and tax outcomes for funding.
@9X9TVMB4mos4MO
Yes. Additionally, lower the income tax rate on the lower brackets, and remove all existing tax loopholes for large corporations.
@9WWWG2P4mos4MO
If that’s what it takes for the government to finally assist middle class citizens. We are struggling.
@9WNKBL55mos5MO
Raise or retain the current taxation of higher income earners and cap the amount of offsets and deductions higher income earners are able to claim. Abolish negative gearing - safe, secure, affordable housing is a basic human right, not something the wealthy should be utilising to profiteer off those less privileged.
@9WKJNNW5mos5MO
They should obviously decrease taxes on the rich to make them richer and increase the taxes on the poor to keep the poor people poor and make the rich people richer.
@B2XNM474wks4W
Remove personal income tax under a threshold of $150 thousand. Remove tax deductions on rental home mortgage interest. Increase tax on mining production.
@B2CRG6DOne Nation2mos2MO
Abolish tax under 150k and raise threshold yearly with cpi. Start bottom bracket at 150k and raise to next bracket at 250 then top bracket at 500K double the gst but keep protection of basic goods and services. (Non processed food, medical, essential insurance, disability aids etc)
No, keep the current tax rate, but close loopholes for wealthy individuals and corporations that allow them to cheat on paying tax
@9W57KDX5mos5MO
Reform the tax system to primarily operate around a Land Value Tax, lessening or abolishing all other forms of tax
@9VZLMXF5mos5MO
NO! Tax should be lower for everyone 50% is ridiculous considering people work hard for that money and people are struggling
@9VMMVPC5mos5MO
It's unfair to have high tax rates for them, they worked hard for there money they should not have it taken from them.
@9S25CV37mos7MO
No, taxes for everyone should be lowered for everyone, and taxes for business owners should be even lower
@9M8CT8410mos10MO
Yes, the government should raise taxes on rich people, but only based on their incomes, not on the business.
Governments should regularly compensate for bracket creep and reduce claimable deductions to simplify the tax system.
@9LMDLMF11mos11MO
Raise taxes for the rich, end loopholes that allow corporations to not pay taxes, and lower the tax rate for those with low income
@9LLC33X11mos11MO
Yes it should creep up gradually, remove deductions and cuts over a certain value, remove taxes for everyone earning less than countries average yearly salary mean eg that 63k bs average
@9L9RKM911mos11MO
There should be a flat tax on all revenue or gross income on corporations and individuals so as to more fairly generate funds for reinvestment into the infrastructure/utilities that an individual or business consumes.
@9L29TYZ12mos12MO
Have a flat tax rate on business turnover, not profit. Have a flat rate on income tax with no deductions allowed. Reduce tax rate to around 10% to analyse needed tax rate.
everyone should pay their fair share of taxation higher incomes should pay more tax then a lower income earner but no one should and will pay more the there fair share.
raise the tax's on the top income bracket and move that money to funding domestic polices and to decreasing our national debt
Having tax low for different things is a very good thing to have for some people, and maybe a little portion of society, but if there is no tax, then it makes it extremely difficult to keep structure in place for the government and potential, lots of organizations and industries in the process, this would lower the inflation rate which includes a lot of things that are included with equity, but this would cause an extreme financial crash for the organizations and industries like mentioned before, especially the government, and including this, all structures including roads, houses, buildings, restaurants, universities, schools, hospitals, etc, will all experience an extreme limitation within the city, suburb, or town and potentially, the country.
Keep it the same but if you are poor there can be exceptions and if you are rich you can choose - there can also be donating programs to donate to services.
no, no matter your status of being rich or poor it should be the equal.unless your paycheck is high than more taxe is to be taken than you earning less.
Raise income taxation on the rich but only to put an end to the deficits. End the corporate tax and don’t raise the surtax too much
fully reform tax in Australia. export tax should be reformed. Adopt an Norwegian with more state owned assets and create a proper sovereign fund base on Australias natual resources.
Raise taxes if at least a small percentage of the money is not seen to be directly helping the community and poor e.g. charity.
The government should be aware of struggling people but encourage not force people to try and raise funds for them.
@9FKB4JJ1yr1Y
Instantiate a tax on the unimproved value of land as a replacement for all non-Pigouvian taxes
@9FGQS471yr1Y
increase rich tax lower poor tax, the richer you are the more you should be taxed
@9FFPD891yr1Y
Lower tax, reduce spending.
@9F9VNPV1yr1Y
Lower the income tax, instate an LVT, remove all existing tax loopholes for large corporations.
@9DXHCRJ2yrs2Y
yes, but taxes should also be lower on the poor as taxes should correlate to wage income. As in scandi countries high taxation means that the government can use more money on public services.
Add more tax brackets, reduce tax for lower brackets and increase for higher
@9DDBFK52yrs2Y
No but more offsets and tax benefits need to be provided to those on lower tiers
Increase enough tax for the rich in order to bring to common denominator. Decrease enough tax for the poor in order to bring to common denominator.
Abolish income tax and replace it with land tax based off the sale value of a property, additionally make donations to Australian charities financially beneficial for the donors (I.e. for every $1 donated, $1.05 is deducted)
@8JKW6L34yrs4Y
keep current variable tax rate and remove all existing tax loopholes for large corporations and mining companies.
@B2M2C6L1mo1MO
I believe large corporations should pay more tax however I understand it's not as simple as increasing tax rates. There are lots of tax evasion loopholes and if you increase tax brackets too much, corporations can do business elsewhere.
@B2L57SD1mo1MO
Raise the tax rate on over $200,000 but lower the rate for those earning through multiple income sources
@B2J5P8H2mos2MO
I believe the exeptionally wealthy who are not contributing to society should be taxed heavily, if they donate to public works they should receive lower taxes
@9VTRPSM5mos5MO
No, but put limits on the benefits that can be gain from other areas. Ie. People can only have 2 investment properties that are tax deductible.
Yes, but only for the rich who have not earnt it, eg. trust fund and media influences who have not completed a university degree
@9VGJ7Q55mos5MO
No, you have to be stupid to do that because the rich have worked hard for there money and if u increase taxes they could become poor and hoemless.
@9V4CDGX6mos6MO
we should be seeing more benefit from the natural resources that we sell overseas to fund our education and Health sectors
@9TQ5HHD6mos6MO
Regardless, this should be decided by a CTA (Comprehensive Tax Audit) at the end of every year, inspecting the budget and everything and deciding where to reduce spending, where to increase spending, where to reduce or increase taxes, where to privatise, where to publicise, etc.
@9T6575J6mos6MO
Raise the income tax on higher earners, lower it on lower earner and remove all existing tax loopholes for large corporations
Raise taxes on the rich, make it mandatory for billionaires to pay tax and remove all tax loopholes for large corporations and tax the middle to lower income less
@9SDR7BF7mos7MO
Ever so slightly, but remove all existing tax loopholes for large corporations to ensure they pay their fair share
@9R36Q5Y8mos8MO
Yes and we need to reduce our spending to clear our dept. When our dept is cleared, then we should to make tax cuts for everyone.
@9QYCGD38mos8MO
Yep but more importantly, ensure large company's pay their fair share of tax but outlawing their dodgy systems
@Edward9183yrs3Y
Not ‘raise’ but prevent loopholes and free rides
Yes, but only for people who inherited their wealth
Higher tax on the super rich and multi national corporations
@9BQ3PLS2yrs2Y
Yes, then people who are unable to pay tax wouldn't have to pay as much
@9BMD9YH2yrs2Y
Tax rates should depend on the individuals income.
@99Z8SC42yrs2Y
Abolish the income tax and raise taxes on Business and assets
@96KS5LV2yrs2Y
No, only if they have a history of not working for their money.
@96KQRRP2yrs2Y
@96FVK5J2yrs2Y
No, set a flat tax at 20%
@96FSNRQ2yrs2Y
Yes but the rich should agree with the raising of tax and take consideration of why they are spending more tax.
@966WZDC2yrs2Y
yes and no if they do rich people will know how us average wage people feel but at the same time they are being robbed
@964F4BM2yrs2Y
Reform tax deduction structure and inclusions, create additional tax bracket for very high income earners, reduce penalties for additional superannuation contributions and for those with two PAYG jobs
Everyone should pay the correct amount of tax, the same as everyone.
@94CWB6Z3yrs3Y
No. Remove all existing loopholes that allow for tax reduction.
The taxes for the rich will only increase a bit but increase more largely for foreign companies and close loopholes.
@943W4VP3yrs3Y
Yes and lower taxes for the poor and remove all tax loopholes for large corporations
@HippopiJ3yrs3Y
Yes, and remove all tax loopholes for large and multinational corporations.
@93TCPTK3yrs3Y
Lower taxes for poor people and remove all loopholes
The tax is fair they just use loop holes to get around it. So someone smarter then me needs to fix it
The rich are those earning over $15000. Yes
@93H73HG3yrs3Y
abolish the income tax, increase sales tax and fix loopholes used by national and multinational corporations.
@93GJJHJ3yrs3Y
Yes, and make it relative to their income and lower taxes for the poor.
@935JKT73yrs3Y
Maybe raise taxes for the very rich just a little bit, and remove tax loopholes for large corporations
@9355TDT3yrs3Y
The governments should maintain the same rates of taxation but remove the tax loop holes that are currently abused. As well as to ensure companies pay appropriate tax, potentially even raising it
@9353BBF3yrs3Y
Taxes should be tiered, and equivalent to the amount of income and assets one has, with close monitoring for tax evasion/system loopholes for the wealthy to exploit.
@9352PM83yrs3Y
yes raise taxes on the rich and lower taxes for the poor
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