BeerBaron is using 08/09 tax rates
LordEl is using 07/08 tax rates.
LE Use this to make calculation easier:
http://www.ato.gov.au/individuals/content.asp?doc=/content/12333.htm
LE, also found another mistake in your working:
"So you have a credit of $6K + $3,600 = $9,600 for the bits up to $75K."
No. You have a credit of (30% of 6K) + (15% of 24K) = 1.8 + 3.6 = $5,400.
BeerBaron forgot to add on the Medicare Levy.
Joel
the longer you wait rio the more it will cost, page-28
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