Sooner or later, the Federal Reserve will have to raise interest rates, and this will affect you and every other investor in the United States. Regardless of when it happens, the Federal Reserve will begin increasing the federal funds rate from its current range of zero to 0.25%.
The current tax-free threshold is $18,200, and the highest marginal rate for individuals is 47%. In addition, most Australians are liable to pay the Medicare levy, of which the standard is 2% of taxable income.he Low Income Tax Offset (LITO) is a tax rebate for individuals on lower incomes. From 1 July 2010 it provides individuals earning less than $30,000 with a tax rebate of $445.
New for 2015: The limit on the deduction of tax-exempt allowances paid by employers to employees that use their personal vehicle for business purposes for 2015 will be increased by 1 cent to 55 cents per kilometre for the first 5,000 kilometres driven and to 49 cents for each additional kilometre.