Bigfella said:
Don't forget that for these blokes, every 100K they are paid goes almost 50% in tax. So a contract difference of 20-30k is not a huge difference when they are already up to 250-300.
Not quite my misinformed friend
2008/09 Thresholds
Tax on this income
0 - $6,000
Nil
$6,001 - $30,000
15c for each $1 over $6,000
$30,001 - $80,000
$3,600 plus 30c for each $1 over $30,000
$80,001 - $180,000
$18,600 plus 40c for each $1 over $80,000
Over $180,000
$58,600 plus 45c for each $1 over $180,000
Resident Individual Rates for 2006/07 and 2007/2008
Tax on this income
2007/08 Thresholds
Tax on this income
0 - $6,000
Nil
0 - $6,000
Nil
$6,001 - $25,000
15c for each $1 over $6,000
$6,001 - $30,000
15c for each $1 over $6,000
$25,001 - $75,000
$2,850 plus 30c for each $1 over $25,000
$30,001 - $75,000
$3,600 plus 30c for each $1 over $30,000
$75,001 - $150,000
$17,850 plus 40c for each $1 over $75,000
$75,001 - $150,000
$17,100 plus 40c for each $1 over $75,000
Over $150,000
$47,850 plus 45c for each $1 over $150,000
Over $150,000
$47,100 plus 45c for each $1 over $150,000