Friday 29 June 2012

NEW FINANCIAL YEAR

Can make $50.00 each single day of the year everyday for a total of $18,250.00 in a 365 day year and $18,300.00 every leap year which is 366 days.
So if you make $18,250.00 thats $50.00 over the limit which equals to $9.50 in tax if you earn $18,300.00 thats $100.00 over the threshold which equals to exactly $19.00 tax.

The $19.00 tax max a year for earning $50.00 per day can be covered by earning $2.00 per month netting $1.62 per month so $19.44 per year which is over enough to cover the $19.00 in tax.

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