Great topic. I too often bang my head when people don't quite understand how it all works, but ate trying to say XYZ, when it's not the case.
I'll have a proper read and contribute more when I'm not on my phone
*I can haz typos*
I think generally when people say they pay 45% tax they are simply saying they are in that particular bracket.
It's far less of a mouthful than saying 'I pay $54k + 45c on each $1 above $180k + the Medicare surcharge'.
Same goes for all brackets really.
If you do the maths we are loosing $50 a week, we got $800 back than got a bill for $260! Sorry but I feel the need to complain about that. And that doesn't take into account deductions
I would see an accountant HOF, something isn't right there.
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