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RE: TEAMAUSTRALIA: Weekly Challenge #1 - Prize: 5 SBD
Taxation is required for the government to operate but I think Australian tax rate is over the limit, if I am not wrong, is it 50c in a dollar? That's because the social benefits are too high, reduce the benefits and the tax can follow suit.
No it's not 50c in a dollar. It starts with 0c in a dollar and goes up to 45c in a dollar. Depends on how much you earn. If you earn less than 21K per year, you won't have to pay any taxes!
Thanks for the clarification. However, for the highest tax bracket, 45c is still too high.
Oh Yeah absolutely! :]