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Investment property analysis tool

Discussion in 'Information Resources & Tools' started by JK200SX, 28th Sep, 2015.

  1. JK200SX

    JK200SX Well-Known Member

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    Melbourne
    Been looking around for one of these for a while, and have come across this:
    http://passgo.com.au/investment-property-analysis-tool.html

    I have a question in relation to income tax bracket - item 7. Is this the tax rate you would be taxed at through salary without any tax variations, etc? ie if you payslip only had a gross amount, tax withheld and nett pay, then would your tax rate be withheld tax divide by gross pay?
     
  2. House

    House Well-Known Member Premium Member

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  3. York

    York Finance Broker Business Member

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    Regarding tax rate, the answer is yes. But its not as simple as your calculation. The withheld figure on your payslip accounts for the tax free threshold. So can't really work it out like that. Best way is to go to:

    https://www.ato.gov.au/Rates/Individual-income-tax-rates/

    Just look for you're salary in the particular bracket and the corresponding rate will be your rate of tax and keep in mind it doesn't account for Medicare levy levy of 2%.
     
    Last edited: 29th Sep, 2015
  4. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Hiya

    I created this a looooooong time ago - and haven't updated it for a while. Use it as a general guide only.

    Cheers

    Jamie
     
  5. Arashi87

    Arashi87 Well-Known Member

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    Do you have an updated version of it Jamie?

    Cheers
     
  6. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

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    Sorry - haven't had time to look into it