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Look up Australia's resident tax rates for 2018-19 available on the Australian Taxation Office website. You will find a table containing 5 tax rates depending
Look up Australia's resident tax rates for 2018-19 available on the Australian Taxation Office website. You will find a table containing 5 tax rates depending on income. Please use the rates contained in the table to answer the following questions. (a) For someone earning AU$25,000 of taxable income, what is her marginal and average tax rate? (b) For someone earning AU$140,000 of taxable income, what is her marginal and aver- age tax rate? (c) For someone earning AU$2,000,000 of taxable income, what is her marginal and aver- age tax rate? (d) What would have to be true about the taxable income of an Australian for her marginal and average tax rates to be the same? (e) Is the Australian income tax system progressive, flat, or regressive? Is that true at ev- ery taxable-income level? Look up Australia's resident tax rates for 2018-19 available on the Australian Taxation Office website. You will find a table containing 5 tax rates depending on income. Please use the rates contained in the table to answer the following questions. (a) For someone earning AU$25,000 of taxable income, what is her marginal and average tax rate? (b) For someone earning AU$140,000 of taxable income, what is her marginal and aver- age tax rate? (c) For someone earning AU$2,000,000 of taxable income, what is her marginal and aver- age tax rate? (d) What would have to be true about the taxable income of an Australian for her marginal and average tax rates to be the same? (e) Is the Australian income tax system progressive, flat, or regressive? Is that true at ev- ery taxable-income level
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