Google AI

Weekend Times


The Times

Business News

that's how we tax income from savings

  • Written by: Robert Breunig, Professor of Economics and Director, Tax and Transfer Policy Institute, Crawford School of Public Policy, Australian National University
that's how we tax income from savingsShutterstock

We’re told Australia has a progressive tax system – the more you earn, the higher the rate.

And that’s certainly the case for earnings from wages. An Australian on A$35,000 sacrifices 21 cents out of each extra dollar they earn whereas an Australian on $90,000 sacrifices 39 cents.

That’s how it’s meant to be...

Read more: that's how we tax income from savings

The Weekend Times Magazine

A Fantastic Trip To Melbourne, Australia With Minimal Spending? Here’s How?

Famed for the iconic Melbourne cup horse race, Melbourne, Australia ranks as one of the best travel destinations worldwide. It offers tourists an escape from the hustle and bustle of...

The Ultimate Guide to Choosing the Right Removalists for Your Next Move

Whether you are relocating for work, upgrading your living space, or downsizing, the process of moving often requires careful planning, organization, and assistance. One of the most important steps in...

The Vital Role of Indemnity Insurance in Nursing

In modern healthcare, nurses operate within an increasingly complex professional environment that exposes them to a wide range of risks. Their responsibilities extend from direct patient care to managing complex...

Swimming with whales: you must know the risks and when it’s best to keep your distance

Three people were injured last month in separate humpback whale encounters off the Western Australia coast. The incidents happened during snorkelling tours on Ningaloo Reef when swimmers came too close to...

Ben & Jerry’s launches ‘next-level ice cream’ phenomenon

Get ready, ice cream fans – a new ice cream revolution is coming to Australian shores! Ben & Jerry’s is today officially launching its new range of flavours to the...

Why Is My Toilet Not Flushing?

No one factor is responsible for toilets not flushing normally. Additionally, the reason behind this plumbing issue can also differ. The location, whether it is in a residential property or...

The official ANZ launch of EPOS

Sydney - Following a panel discussion with Australian businessman Mark Bouris and panellists Alyce Tran, Scott Bidmead and Jahan Sheikh from Microsoft EPOS was launched. Attendees experienced...

Parrtjima opens in Australia’s Red Centre

Free event in Alice Springs will lift spirits every night until 20 September Parrtjima – A Festival in Light launched last night with an incredible display of lighting installations and interactive...

Top Applications of Sandstone Crazy Pavers

Crazy paving may not seem like an expensive flooring option, but it is well worth your attention and thought. It refers to the ‘crazed’ appearance of a completed area and...