With our Residential Conveyancing Offer, we offer fixed fees of $590 (plus disbursements) for your purchase or sale. Conditions apply. | See more …
We offer fixed fees from $1100 for one of our Lawyers to appear on one day at any Local Court in Sydney. Conditions apply. | See more …
Our experienced Brokers can help you compare interest rates and home loans, at no cost to you in the comfort of your own home. | See more …
Our Chartered Accountants & Tax Agents charge a flat fee of $88 for your Individual salary or income tax returns. Conditions apply. | See more …
Create wealth. Minimise tax. Structured tailored solutions. Arrange a free consultation with a Financial Advisor today. Conditions apply. | See more …
We can help. Our lawyers will obtain an understanding of your situation and complete your simple will for $330. Conditions apply. | See more …
Fixed fees of $790 (plus disbursements) for the sale or purchase of residential property & a simple will. Conditions apply. | See more …
For a fixed fee of $440 plus disbursements, our Chartered Accountants can help you complete the puzzle of Company Registration. | See more …
You may feel like you are all alone and that the odds are against you. Speak to one of our experienced Litigation Solicitors. | See more …
When it comes to your business, precision is key. Speak to one of our experienced Business & Commercial Law Solicitors. | See more …
Our Litigation Lawyers focus on delivering cost effective, strategic solutions to your legal dispute. | See more …
Let us show you how refinancing your mortgage can save your family thousands every year, freeing up money for the important things in life. | See more …
Don’t feel discouraged. We can help. For an agreed fixed fee, we can provide you with a preliminary legal opinion. | See more …
For an agreed fixed fee, our lawyers can assist you with tailored legal solutions for Discretionary, Hybrid, Family & Unit Trusts. | See more …
For a fixed fee of $550 plus disbursements, our Chartered Accountants can help you register your SMSF. Conditions apply. | See more …
For a fixed fee of $550 plus disbursements, our Chartered Accountants can help you register your Business & Company. Conditions apply. | See more …
We offer a special package of $440.00 including GST, for a simple Will, Power of Attorney and Enduring Guardianship. Conditons Apply. | See more …
Income tax is payable by individuals, companies and various other types of entities. We assist many individuals in the lodgment of their tax returns and, especially for persons who have investments and receive income from a diverse range of sources, seeking the expertise of a Sydney chartered accountant or Sydney accountant can be the difference between hundreds or thousands of dollars of savings in tax. For companies, seeking advice from a chartered accountant is crucial.
In relation to income tax returns, there are two fundamental formulae to keep in mind. The first allows you to determine your taxable income for any given year:
Taxable Income = Total Assessable Income – Total Deductions
Your “assessable income” can include (but is not limited to) things like your salary, interest earned on savings and profit from investment properties. “Deductions” might include (but is not limited to) things like expenses incurred in the course of your employment and losses and expenses involved with maintaining an investment property. Most important to tax payers, the law accommodates for a whole range of tax deductions. An accountant can help you identify whether any of your expenses can be properly categorized as a tax deduction and therefore reduce your taxable income.
The second formula allows you to determine how much income tax you will be liable for in any given year:
Income Tax = (Taxable Income x Rate) - Tax Offsets
“Rate” refers to the marginal tax rate which, for Australian individual residents in the 2011-2012 financial year is:
|
Taxable income |
Tax on this income |
|
0 - $6,000 |
Nil |
|
$6,001 - $37,000 |
15c for each $1 over $6,000 |
|
$37,001 - $80,000 |
$4,650 plus 30c for each $1 over $37,000 |
|
$80,001 - $180,000 |
$17,550 plus 37c for each $1 over $80,000 |
|
$180,001 and over |
$54,550 plus 45c for each $1 over $180,000 |
Note that the above rates do not include the Medicare levy and flood levy.
It is also important to note that different concessions and exemptions can apply.
This webpage (and any material or wording appearing on this webpage) is provided for general information purposes only and does not constitute any Tax or Accounting Advice. It does not take into account your objectives, financial situation or needs or your instructions or all of the relevant facts and/or circumstances. Navado accepts no responsibility to any person who relies on the information provided on this website. We further refer you to our Disclaimer.
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