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> Side note: My marginal income tax rate in Australia is 37%... I feel absolutely robbed looking at these California tax rates You're missing federal. You have
by topmonk 8y ago
> Side note: My marginal income tax rate in Australia is 37%... I feel absolutely robbed looking at these California tax rates
You're missing federal. You have to add both together to get a final tax. At that income federal would be about 30% after deductions. So totally it's around 37% - 39%, depending on your deduction.
- glangdale 8y agoCorrect. I had to laugh at the idea of someone at that income level paying 9% marginal. US taxes work out a good deal less than Australian if you are paying Australia federal income tax but filing in the USA at a federal level (joys of dual citizenship!), but Australians often don't add up fed+state+local. So there's a lot of mythology in Australia about the low-tax USA as we don't pay state income tax here.