Ninety per cent tax for a day’s work: The battle facing Aussie mums.
Is it true?
Will Aussie Mums have to pay 90% tax?
What is the REAL story on 90% Tax?.
It seems it may not be tax after all; this is one part of the story:
- A woman typically loses 90 per cent of her wage for every extra day she uses childcare and in many cases actually pays to work.
It seems it may be about Childcare subsidies, and for families earning an annual income of $186,958 when they find that the Childcare subsidies tail off at higher incomes and are capped at only $10,190 per child each year.
So, it appears that those with an income of $186,958 must pay for someone to look after their kids themselves. No more contributions from the taxpayer, to look after the kids, if your income exceeds $186,958.
The story goes on to say:
- Labor has offered some compensation by offering 15 hours of pre-school access to three- and four-year-olds, at a cost of $1.7 billion, but this still leaves parents of an estimated 300,000 two-year-olds facing effective marginal tax rates of up to 90 per cent.
and, one mothers statement, in that news story, is quoted at:
- “She regularly thinks about getting a lower paid job to be eligible for higher rebates.”
That’s the answer, get a lower paid job to be eligible for more subsidies from the taxpayer.
Not sure, but this is all very confusing.
I wish I had an income of $186,958, and had to pay the ATO calculated tax of $57,363.10. This is actually a tax rate of 30.7% of the total income.
I know we have a Federal Election coming, maybe it is just something to do with that. Politics? Electioneering?