Except that addition $21,400 is added to your taxable income, tax calculated and if your marginal tax is more than 30%, then you need to pay the difference to the tax man.
If it is less than 30%, you will get the difference between the two refunded.
Currently, if your marginal tax is 0%, then your imputation credits (franking) will be refunded to you by the tax man.
- Forums
- Economics
- Tax on retirees
Except that addition $21,400 is added to your taxable income,...
-
- There are more pages in this discussion • 11 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)