Cocos (Keeling) Islands Information about minimum wage and taxes.
Since the Cocos (Keeling) Islands are a territory of Australia, they are subject to Australian minimum wage and tax regulations. Therefore, minimum wages and taxes in the Cocos (Keeling) Islands are applied in accordance with the rules set by the Australian government. As of 2021, the hourly minimum wage in Australia is 20.33 Australian dollars. This wage represents the minimum amount a full-time worker should earn in a 38-hour week. However, since most workers in the Cocos (Keeling) Islands work in the tourism and service sectors, hourly wages may be higher for some jobs. When it comes to tax rates, Australia uses an income-based tax system. Different rates of tax apply depending on the amount of income. Australian income tax rates for the 2021-2022 financial year are as follows: - Tax rate for income between 0 - 18,200 Australian dollars: 0% - Tax rate for income between 18,201 - 45,000 Australian dollars: 19% - Tax rate for income between 45,001 - 120,000 Australian dollars: 32.5% - Tax rate for income between 120,001 - 180,000 Australian dollars: 37% - Tax rate for income of A$180,001 and above: 45% These tax rates also apply to workers in the Cocos (Keeling) Islands. However, tax rates may vary depending on a person's income level and other factors. Additionally, factors such as tax deductions and exemptions may also affect tax calculations. This information is for general information purposes only and I recommend that you contact the Australian government's official tax and workers' rights agencies for more detailed information regarding minimum wages and taxes in the Cocos (Keeling) Islands.
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