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.
Married Joint. If you are a married couple filing a joint return, the standard deduction is $20,600. The first tax band covers annual TAXABLE income from $0 to $18,450. On this band, you will pay 10% income tax. Between $18,450 and $74,900 you will pay 15%.