Hi Mick,
When you put out your information it would pay to check that you are comparing apples with apples or Taxes with Taxes.
By displaying a %% on a table to use in comparison with the Australian Tax system is not comparing those apples correctly.
Lets take the UK system for example where you have stated they pay 38.1%.
Thats not quite true on a number of fronts, and here are the reasons why.......
The UK, since 2016 have scrapped franked dividends, so rather than corporates paying tax the shareholder receives the grossed up dividend then pays tax at one of the rates below, depending on which bracket they fall in to
| Income tax band | Dividend tax rate 2021/22 | Dividend tax rate 2022/23 |
|---|
| 1 | Basic-rate (income of £12,570 - £50,270) | 7.5% | 8.75% |
|---|
| 2 | Higher-rate (£50,271 - 150,000) | 32.5% | 33.75% |
|---|
| 3 | Additional-rate (> £150,000) | 38.1% | 39.35% |
|---|
Mick, have you anything further to add when comparing Overseas Tax systems to Australias?
It appears the fundamental tax issue is in your understanding of the Tax system, not just here in Australia but around the world.
