Taxcheck

Andrew Norton reports on a new website  set up by John Fletcher, which details exactly how the Federal Government is spending our tax dollars. You just plug in either your income or the amount of tax you expect to pay, and it will break down exactly how the government will be spending each cent of your tax. Obviously this isn’t 100% precise, as it doesn’t include tax deductions, Family Tax Benefits etc, but it seems a good approximation. And the more Australians know how their money is being spent/wasted by the government the better.

As an example, according to the Australian Bureau of Statistics, average weekly earnings for all workers are $918.50, which translates to $47,762  a year. Plugging this into the calculator, you will find that someone with an income level of $47,762 will pay $8,179 in taxes (it doesn’t include the Medicare Levy), which which will then be spent as $2,621 in welfare, $1,437 to state governments, $967 in health, $815 in education, $507 for defence, $429 for the public service, and so on. The website also breaks these down into their component categories.

Give it a go!

7 thoughts on “Taxcheck

  1. Unfortuently this is only about the tax we pay. We also pay heaps of tax built into anything we spend our net income on (though GST/excises/buisness taxes etc that increase the price of goods).

    You really need to double every price given. The average person pays about 25% income tax, but at the same time another 24% in taxes based on how much the goverment pulls in from the economy from non income tax sources.

    This site is similair but includes all taxes when spending net income, I believe it does medicare and FTB as well: http://harrypotterquiz.netfirms.com/cgi-bin/tax.cgi

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