ATO New Tax Rates 2024

[@item6931]

It's ludicrous that $45k-$135k have the same tax bracket. Someone on $135k has the chance to live an incomparably better life than someone on $45k.

[@astev52]

I'm in a higher tax bracket and I directly benefit from these changes, but I agree, this is wrong, where does the shortfall in tax revenue come from?

[@robertchaplin]

So you base your thinking on failure or laziness as I so often see.

[@TwelveAccounting]

someone on $45k isn't paying 32.5% tax. It is only on each dollar OVER $45,000 is the 32.5% tax rate applied to. Under $45,000 income is taxed at NIL (up to $18,200) and 19% between $18,200 and $45,000.

[@Anna-fd9tf]

Great video, Derek! Could you do one on the new thin cap rules please?

[@TwelveAccounting]

you clearly have a good sense of humor. derek

[@firaselachkar4159]

Derek please please please get a microphone. This stuff is too good

[@TwelveAccounting]

ok, i'll see what i can do before the next video. derek

[@firaselachkar4159]

@@TwelveAccounting a decent USB microphone is like 50 bucks plugs straight into the laptop.

[@marthinusmeyer1062]

Thanks for sharing, very informative

[@detectiveofmoneypolitics]

Economic investigator Frank G Melbourne Australia is following this very informative content cheers Frank 😊

[@kamilo24]

Great work Derek, Always watch your Videos

[@jasminetutt7631]

Are you based in Australia?

[@prancer4743]

Thank you 🙏🙏🙏

[@albertschubert4942]

There is an mis calculation in the #100K payable tax, it supposed to be #2179 less tax rather than $4179!?

[@yblksama]

Error on the last slide with the 200k income?

[@TwelveAccounting]

are you referring to my name? or in the calculations? derek