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Version vom 26. Juli 2026, 22:07 Uhr
Through the proposed DTC / GST legislations, the government has acknowledged the need of new revenue system nevertheless the proposed new laws apparently appear staying even more complicated then the prevailing one.
The 'payroll' tax applies at a hard and fast percentage of your working income - no brackets. Regarding employee, pay out 6.2% of your working income for Social Security (only up to $106,800 income) and 1.45% of it for Medicare (no limit). Together they take much more 7.65% of your income. There's no tax threshold (or tax free) level of income to do this system.
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