Australian Income Tax
Broadly, Australia levies tax on three sources of income for individual taxpayers: personal earnings (for example, salary and wages), business income, and capital gains. Income received by individuals is taxed at progressive rates. Income derived by companies is taxed at a flat rate of 30%. Generally, capital gains are only subject to tax at the time the gain is realised. For more details apply on website Income Tax Return Refund Rebate Tips.In Australia the Financial Year or Income Tax Year runs from July 1st to June 30th the following year and is most commonly referred to by the year that it finishes in (e.g. 1 July 2005 - 30 June 2006 is the 2006 financial year).
Income tax is applied to the Taxable income of a taxable entity. Taxable income is calculated, in a broad sense, by applying allowable deductions against the income of a taxable entity.
Australian income tax is different from everyone and the income tax rate also rises as you earn and decrease as your income goes to earth. If you want to