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.
The program is financed by worker payroll deductions. Starting January 1, 2014, each worker contributes .001% of the taxable wage base. For 2014, the taxable wage base is $31,500, and the maximum yearly deduction for Family Leave Insurance is $31.50. The taxable wage base changes each year.