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Foreign earned income exemption prevents IRS from taxing the first $108,700 in 2021. The tax rate in Australia for first $18,000 is 0%, compared with 10-12% fe
by tppiotrowski 6y ago
Foreign earned income exemption prevents IRS from taxing the first $108,700 in 2021.
The tax rate in Australia for first $18,000 is 0%, compared with 10-12% federal + X% state in the US so if you're a low income earner living abroad can save big on taxes.
- laurencerowe 6y agoThe first $12K is normally tax free in the US too (standard deduction.)
- tppiotrowski 6y agoGood point. Standard deduction and payroll taxes make it hard to compare tax schemes across the world. It's all apples and oranges...