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Income tax depends on how much you earn in an year?Hi all experienced drivers,
I drove last night in Wollongong, got 7 trips for 45 Dollars. I am just thinking how much I have to pay income tax in future earnings ? Gst is 10% and what about income tax?
Moreover, I started recording kms, I have reciepts for the fuel as well, how you guys claim petrol ? is it per km of the car ??
Please reply thank you
Moby
Financial year 2017/18
Taxable income Tax on this income Effective tax rate
$1 - $18,200 Nil 0%
$18,201 - $37,000 19c for each $1 over $18,200 0 - 9.65%
$37,001 - $87,000 $3,572 plus 32.5c for each $1 over $37,000 9.65 - 22.78%
$87,001 - $180,000 $19,822 plus 37c for each $1 over $87,000 22.78 - 30.13%