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| *Loan,banking and credit>>>child tax |
I've just sponsored 2 children which only costs $79 a month. How much tax will I get back for the donation? |
I've just sponsored 2 children which only costs $79 a month. How much tax will I get back for the donation? It depends on which tax bracket your income falls into in a tax year. Most people's income fall into the 30% tax bracket - therefore you reduce the tax on the gross tax payable on your income (or "get back") by 30c for every dollar you claim as a tax deduction to reduce your taxable income. To know which tax bracket and rate of tax applies to you see the tax offices website here: http://www.ato.gov.au/individuals/conten... wow. u can sponser my kids. lol. with 79 dollars a month or 1000 dollars you can hire better financial consultant or financial lawyer to show you all the loopholes you can use to lower your taxes more than donations. |
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