H do they work out how much u are taxed??

[bAaM]

I'm starting a new job tomorrow :smiliedance:
And am wondering how much i will get taxed??
Is it 10% of what u earn and how do u work it out??

[sam's mum]

http://www.ato.gov.au/content/downloads/n1006-05-2007.pdf

look up your fortnightly pay in the schedule and it will give an indication of how much tax will be withheld.

[grass is always greener]

http://www.ato.gov.au/content/downloads/n1005-05-2007.pdf

Here is the weekly one. Work out how much you would earn a week and then find that amount on the table, forget any cents that may be at the end it is irrelevant to tax.

[Chickadee]

Wow, those schedules are confusing. My salary is taxed at 26%, which is fairly high I think but not the highest tax bracket.

[JacksMumBec]

OR if you know how often you'll be paid (weekly/fortnightly etc), and can work out the GROSS pay for that period (eg $750 a week before tax)

go to here (http://ato.gov.au/scripts/taxcalc/calc_standard_hire.asp) fill in the form and it will tell you exactly how much tax should be taken out.

[blackdog]

This one is handy for working out the relationship between your net and gross income

http://www.calculateyournetsalary.com/

I always get stuck when I'm asked for Gross :p

Don't forget to put in Australia at the top.

[MummaBear03]

I pay about $100 a week in tax, which is a bit less than I get from Centrelink.

[SomewhereOverTheRainbow]

Big thanks to everyone who put the calculators up! I have been stressing as I will be taking maternity leave at half pay from Nov for 6 months and the calculator has helped me a lot. I normally pay $600-800 a fortnight tax (I do shift work so what I earn varies) but at half pay I will only be paying around $140. HUGE difference and I'm thinking maybe I can afford this after all.
Thank you!