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using company car for private purposes - Page 3


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Old 12-02-2014, 07:57 PM
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Quote:
Originally Posted by aussiesteve View Post

That's right, it would only come into play when working out the Medicare levy ( should you have to pay it) which is only 2% anyway. It is also taken into account when assessing welfare and child assistance payments however you basic income is well above the eligibility threshold of any assistance.
Am I right to say that Medicare levy is kind of helth insurance deduction taken from my wage?


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Old 12-02-2014, 09:59 PM
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Quote:
Originally Posted by slavek View Post

Am I right to say that Medicare levy is kind of helth insurance deduction taken from my wage?
Yes that's right, I am not sure if 457 holders have to pay it, you will need to check.

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Old 12-02-2014, 10:15 PM
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Thank you a lot for all your precious answers and patience. I'll come back with new questions as soon as I sign off the contract.


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Old 01-14-2015, 08:03 PM
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I'm back with my questions. I have found a quite few of tax calculators but none of them has an option to calculate the salary on visa 457. Would please anyone advise me about the accurate monthly salary based on 130k and visa 457?


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Old 01-14-2015, 09:25 PM
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Taxes are not calculated on the visa you hold they are calculated on if you are a resident for tax purposes or a non resident for tax purposes. As you are a 457 visa holder you would be a resident for tax purposes.

Next you to work out what your monthly gross income is excluding super. After you have done this you can use a monthly tax calculator on the ATO website to work out how much tax you will pay each month.


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Old 01-14-2015, 10:40 PM
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130k including 9.5% super...


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Old 01-14-2015, 10:52 PM
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Approximately $7033 per month net. As long as no other included items in your package that have to be taken out.


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Old 01-14-2015, 11:03 PM
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Slightly less than suspected.
Based on all online available tax calculators I was hoping to get something around 7450$

Please, could you post the link to the calculator you've used?


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Old 01-14-2015, 11:14 PM
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https://www.ato.gov.au/uploadedFiles...n1007_Tool.xls

Don't forget when calculating you need to exclude the Super figure.


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Old 01-15-2015, 05:31 AM
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Thank you once again.


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