Your taxable income is the income you have to pay tax on. It is the term used for the amount left after you have deducted all the expenses you are allowed to claim from your assessable income.
Assessable income – allowable deductions = taxable income
Example
Diana goes to school and also has a part-time job packing fruit. She earned $6,300 in wages in the last financial year.
She bought a pair of boots, a pair of gloves and some overalls to protect herself at work, all of which cost her $250. The costs of protective items are allowable as deductions so Diana can claim these expenses against her income.
Diana uses the formula to work out her taxable income:
Assessable income – allowable deductions = taxable income
$6,300 – $250 = $6,050.
The important thing to remember about deductions is that you apply them to reduce the amount of income you pay tax on, you do not deduct them directly from your tax amoun作者: 亲爱的 时间: 26-8-2009 15:46
centerlink 的福利也是分taxable和non-taxable的
taxable income是税前收入，如果雇主代扣了PAYG等等，还要加回去才算，另外interest也是taxable income