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Seems company structure better for u. company only pays 30% tax, while if you have another steam of income over $37k... that is based on current tax law. Below is current Personal tax rate, you need to add another 1.5% for medicare levy.
Current Personal tax rate
Taxable income Tax on this income
$0 – $6,000 Nil
$6,001 – $37,000 15c for each $1 over $6,000
$37,001 – $80,000 $4,650 plus 30c for each $1 over $37,000
$80,001 – $180,000 $17,550 plus 37c for each $1 over $80,000
$180,001 and over $54,550 plus 45c for each $1 over $180,000 |
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