Hey guys, im just wondering if there is a way to work out how much tax you will get back at the end of the year ?
I am in this tax bracket
$30,001 – $75,000 ($3,600 plus 30c for each $1 over $30,000)
I have 1 IP, and just for an example I have a total of $10,000 worth of deductions for the year, $8000 interest on loan + $2000 in rates etc...
Would I get 30% of $10,000 back at tax time ?
I am in this tax bracket
$30,001 – $75,000 ($3,600 plus 30c for each $1 over $30,000)
I have 1 IP, and just for an example I have a total of $10,000 worth of deductions for the year, $8000 interest on loan + $2000 in rates etc...
Would I get 30% of $10,000 back at tax time ?