All Topics / Hotch Potch / Tax on passive income

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  • Profile photo of ThomasThomas
    Member
    @thomas
    Join Date: 2003
    Post Count: 4
    October 3, 2003 - 5:02 am

    Hi Guys,
    If you create a passive income, what is the Tax rate?

    Ta

    Profile photo of ANUBISANUBIS
    Participant
    @anubis
    Join Date: 2003
    Post Count: 559
    October 3, 2003 - 5:11 am

    Income is at marginal tax rate, passive or not. CGT halves after 1 year, but stuff like rental income is marginal rate as individual, less in company structure

    Profile photo of ThomasThomas
    Member
    @thomas
    Join Date: 2003
    Post Count: 4
    October 3, 2003 - 5:19 am

    Hey…
    Does that mean passive income is taxed at the same rate as if it were a standard work income.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    October 3, 2003 - 5:24 am

    yes. But you may be able to claim more deductions.

    Terryw
    Discover Home Loans
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 4 posts - 1 through 4 (of 4 total)

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