Migrants:America's Amazing Tax Deductions/Credits!So Cheap!

[Aussie Prick]

For those wishing for the super low taxes of America, just take a look at this:

First up is the very generous EIC (Earned Income Credit)

http://www.thebeehive.org/money/pay-taxes/get-biggest-possible-refund/earned-income-tax-credit

Up to 4,000 USD in Tax Credits!!!!

 

[Aussie Prick]

Did you people know that for every one child you have, that is a tax credit, a dollar for dollar tax offset on your tax liability?!!!???!!!

The American CTC. Wow.http://www.irs.gov/newsroom/article/0,,id=106182,00.html

Amazing!

 

[neddy]

Did you people know that for every one child you have, that is a tax credit, a dollar for dollar tax offset on your tax liability?!!!???!!!

The American CTC. Wow.http://www.irs.gov/newsroom/article/0,,id=106182,00.html

Amazing!

That is good. In Australia, you won't get Income Tax Credit, Instead, Centrelink give you cash.

Family income of $42,559 or less (maximum rate)

If your family income is $42,559 or less, you may be able to get the maximum amount of Family Tax Benefit Part A.

See Table 1.


Table 1:
Maximum Rate of Family Tax Benefit Part A
For each child []Per fortnight[/] []Per year [/]
Under 13 years []$151.34 [/][]$4,631.85[/]
13-15 years [] $196.84 [/][] $5,818.10 [/]
16-17 years []$48.30 [/][] $1,945.45 [/]
18-24 years [] $64.96 [/][] $2,379.80 [/]

In an approved care organisation 0-24 years $48.30 $1,259.25

 

[imperialarms]

this is a fucking joke. married with 2 kids, and you only make 40k??????KNN, go jump into the hudson lar

 

[neddy]

this is a fucking joke. married with 2 kids, and you only make 40k??????KNN, go jump into the hudson lar

Unfortunately, I know of people who earn a declared family income of $40k a year, live in a 3-bedroom house with swimming pool, drive a Merc and go overseas for holidays very year.

Paul Hogan could be one of them.

 

[Aussie Prick]

That is good. In Australia, you won't get Income Tax Credit, Instead, Centrelink give you cash.

Family income of $42,559 or less (maximum rate)

If your family income is $42,559 or less, you may be able to get the maximum amount of Family Tax Benefit Part A.

See Table 1.


Table 1:
Maximum Rate of Family Tax Benefit Part A
For each child []Per fortnight[/] []Per year [/]
Under 13 years []$151.34 [/][]$4,631.85[/]
13-15 years [] $196.84 [/][] $5,818.10 [/]
16-17 years []$48.30 [/][] $1,945.45 [/]
18-24 years [] $64.96 [/][] $2,379.80 [/]

In an approved care organisation 0-24 years $48.30 $1,259.25

If you wish to do a comparison, then by all means, but 40K USD (AUD$ 60K) is the US Median, not the Australian Median.

Lets see what 60K AUD income earners pay VS thier 40K counterparts in the USA. Then lets compare 80K, 100K, then 150K then......you might not like the results......

In America, US$40K (S$60) is alot of $$$ in Southern States, the Midwest, And the North where median Property prices are US$ 100-200,000 per house.

In the above example, the US$40K will have a the following max liability: $US1,598. (3.9%tax) MINUS the CTC of USD2K for the Two children Plus the EIC Credit.

The US GOVT will send this family More money than their tax liability by more than 1-2,000 dollars of free GOVT Money!

This family might actually reach 0 tax basis at USD 60K (A$/S$90,000) WITHOUT ANY DEDUCTIONS OTHER THAN STANDARD.

And thats why most Americans pay little or no tax at all...............

 

[neddy]

If you wish to do a comparison, then by all means, but 40K USD (AUD$ 60K) is the US Median, not the Australian Median.

Lets see what 60K AUD income earners pay VS thier 40K counterparts in the USA. Then lets compare 80K, 100K, then 150K then......you might not like the results......

In America, US$40K (S$60) is alot of $$$ in Southern States, the Midwest, And the North where median Property prices are US$ 100-200,000 per house.

In the above example, the US$40K will have a the following max liability: $US1,598. (3.9%tax) MINUS the CTC of USD2K for the Two children Plus the EIC Credit.

The US GOVT will send this family More money than their tax liability by more than 1-2,000 dollars of free GOVT Money!

This family might actually reach 0 tax basis at USD 60K (A$/S$90,000) WITHOUT ANY DEDUCTIONS OTHER THAN STANDARD.

And thats why most Americans pay little or no tax at all...............

"Southern States, the Midwest, And the North"
Why do I want to live next to rednecks and the only employer other than Wal-mart is the US Army. Will you want to live there?

I think the coastal strips are more livable.

I know that 40% of Americans do not pay tax. I have all along wondered who fund the benefits? Now I know.

 

[Aussie Prick]

"Southern States, the Midwest, And the North"
Why do I want to live next to rednecks and the only employer other than Wal-mart is the US Army. Will you want to live there?

I think the coastal strips are more livable.

I know that 40% of Americans do not pay tax. I have all along wondered who fund the benefits? Now I know.

Before I even go there there is a whole faction of Americans that are very angry they are not paying less tax right now.

They are called Republicans or as I call them, spoilt brats

Australians can draw some similarities between Democrats who are more socialized and eco friendly while paying higher taxes and the current govt in Canberra

 

[Aussie Prick]

Woo Hoo read at and weep people. so Cheap!