Originally posted by Mickie Lane
View Post
Current tax rates
$180,001 and over - $51,667 and $0.45 cents for each dollar over $180,000
If on 750 k currently and offered 1 mill - 250k difference - Taxed at 47% ( 45% tax plus 2% Medicare levy ) - extra $ 132,500
A lot of things are provided to players by the club or sponsors so there is not a lot of deductions claimable
* Manager fees
* Laundry of training gear
* Post tax personal superannuation contributions
*Luggage expenses if not supplied or paid for by the Club
But still an additional 132.5 k is more than a lot folk earn in a taxable income year
Comment