# How much tax for 82K?



## miszy (Feb 1, 2010)

Hello everyone

My husband will be in 457 visa and offered a 82k salary. We want to know how much tax will be deducted and what will be his take home pay? And also we need health insurance for a couple whats the current rate say its a full coverage one?


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## tony carroll (Jun 9, 2008)

Might be looking around 30% ... but thats a guess.. go on to Australian Taxation Office Homepage 
That will give you a better idea


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## sriikanth (May 23, 2009)

The following rates for 2009-10 apply from 1 July 2009.



Tax rates 2009-10

Taxable income
Tax on this income

$1 – $6,000
Nil

$6,001 – $35,000
15c for each $1 over $6,000

$35,001 – $80,000
$4,350 plus 30c for each $1 over $35,000

$80,001 – $180,000
$17,850 plus 38c for each $1 over $80,000

$180,001 and over
$55,850 plus 45c for each $1 over $180,000


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## bal2an (Jun 11, 2009)

miszy said:


> Hello everyone
> 
> My husband will be in 457 visa and offered a 82k salary. We want to know how much tax will be deducted and what will be his take home pay? And also we need health insurance for a couple whats the current rate say its a full coverage one?


You can use the calculation here as an estimation
JAW's Oz Tax Calculator for the Current Financial Year


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## kaz101 (Nov 29, 2007)

It's much better to use the ATO tax calculator:
TAX Calculator


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## zhitaoyuan (Feb 20, 2010)

if you are on 457 visa, you are eligble for a Living Away From Home Allowance. This allowance is part of your salary and tax free.
LAFHA for a couple is 354 AUD/wk food allowance + accomodation


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## RishiRiddhi (Jun 19, 2010)

zhitaoyuan said:


> if you are on 457 visa, you are eligble for a Living Away From Home Allowance. This allowance is part of your salary and tax free.
> LAFHA for a couple is 354 AUD/wk food allowance + accomodation


Interesting Discussion.. 

Just curious to know if is there any otehr area through which we can save tax? like yearly investment / property buying / anyother ways and means??? 

Thanks,
Rushi


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## kaz101 (Nov 29, 2007)

RishiRiddhi said:


> Interesting Discussion..
> 
> Just curious to know if is there any otehr area through which we can save tax? like yearly investment / property buying / anyother ways and means???


If you are a high tax earner you can be encouraged to buy an investment property that makes a loss (it's called negative gearing) to reduce your taxes. However in my opinion (as a property investor) that's a risky strategy with mortgage interest rates going up. One paper reported that since the interest rate rises last year the average mortgage has gone up about $300 a month! Personally I still rather buy an investment property that makes money and pay the tax. 

There are also trusts that can minimise tax. Talk to a financial advisor or accountant once you're here and they'll be able to guide you. 

Regards,
Karen


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## munyaradzi (May 14, 2010)

miszy said:


> Hello everyone
> 
> My husband will be in 457 visa and offered a 82k salary. We want to know how much tax will be deducted and what will be his take home pay? And also we need health insurance for a couple whats the current rate say its a full coverage one?


Is the 82k inclusive or exclusive of supperannuation? Supperannuation is 9% of gross salary, medical aid/insurance is 1.5% of gross i think. You may need to confirm these rates.


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## RishiRiddhi (Jun 19, 2010)

kaz101 said:


> If you are a high tax earner you can be encouraged to buy an investment property that makes a loss (it's called negative gearing) to reduce your taxes. However in my opinion (as a property investor) that's a risky strategy with mortgage interest rates going up. One paper reported that since the interest rate rises last year the average mortgage has gone up about $300 a month! Personally I still rather buy an investment property that makes money and pay the tax.
> 
> There are also trusts that can minimise tax. Talk to a financial advisor or accountant once you're here and they'll be able to guide you.
> 
> ...


Thanks Karen for great guidance. I was searching for several topics on this forum and this is one of the topic. Thanks.. 

Regards,
Rushi


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