NEW TAX RATES IN A SIMPLE GRAPHIC (Excel too)

So it's been budget night. I should be writing lesson plans, instead I'm pulling apart the tax implications. 


So I give you the NEW 2012-13 TAX RATES IN A SIMPLE GRAPHIC! (Which shows you got bugger all really).

And for my next trick, the EXCEL formula for figuring out your tax in the 2012-13 financial year. 
=SUMPRODUCT(--(B5>={18201;37001;80001;180001}),(B5-{18200;37000;80000;180000}), {0.19;0.135;0.045;0.08}) 
Where Cell B5 is your taxable income. 




This is for this FY and the prior - ie 2010-11, 2011-12
=SUMPRODUCT(--(B4>={6001;37001;80001;180001}),(B4-{6000;37000;80000;180000}), {0.15;0.15;0.07;0.08})

• where B4 is the Taxable Income

Warning. This does not contain the low income tax offset, medicare, the MLS, the flood levy, HECS, .... it's straight out personal income tax for the resident tax payer. 

If you like it, follow me on Twitter @tetracarbon for more tax goodies. 

If you have complaints, send them to phillipjustinwong@gmail.com. 

-Tetracarbon out. 

Taxable Income	TAX2012	TAX2013	Difference
1,000	-	-	-
2,000	-	-	-
3,000	-	-	-
4,000	-	-	-
5,000	-	-	-
6,000	-	-	-
7,000	150	-	150
8,000	300	-	300
9,000	450	-	450
10,000	600	-	600
11,000	750	-	750
12,000	900	-	900
13,000	1,050	-	1,050
14,000	1,200	-	1,200
15,000	1,350	-	1,350
16,000	1,500	-	1,500
17,000	1,650	-	1,650
18,000	1,800	-	1,800
19,000	1,950	152	1,798
20,000	2,100	342	1,758
21,000	2,250	532	1,718
22,000	2,400	722	1,678
23,000	2,550	912	1,638
24,000	2,700	1,102	1,598
25,000	2,850	1,292	1,558
26,000	3,000	1,482	1,518
27,000	3,150	1,672	1,478
28,000	3,300	1,862	1,438
29,000	3,450	2,052	1,398
30,000	3,600	2,242	1,358
31,000	3,750	2,432	1,318
32,000	3,900	2,622	1,278
33,000	4,050	2,812	1,238
34,000	4,200	3,002	1,198
35,000	4,350	3,192	1,158
36,000	4,500	3,382	1,118
37,000	4,650	3,572	1,078
38,000	4,950	3,897	1,053
39,000	5,250	4,222	1,028
40,000	5,550	4,547	1,003
41,000	5,850	4,872	978
42,000	6,150	5,197	953
43,000	6,450	5,522	928
44,000	6,750	5,847	903
45,000	7,050	6,172	878
46,000	7,350	6,497	853
47,000	7,650	6,822	828
48,000	7,950	7,147	803
49,000	8,250	7,472	778
50,000	8,550	7,797	753
51,000	8,850	8,122	728
52,000	9,150	8,447	703
53,000	9,450	8,772	678
54,000	9,750	9,097	653
55,000	10,050	9,422	628
56,000	10,350	9,747	603
57,000	10,650	10,072	578
58,000	10,950	10,397	553
59,000	11,250	10,722	528
60,000	11,550	11,047	503
61,000	11,850	11,372	478
62,000	12,150	11,697	453
63,000	12,450	12,022	428
64,000	12,750	12,347	403
65,000	13,050	12,672	378
66,000	13,350	12,997	353
67,000	13,650	13,322	328
68,000	13,950	13,647	303
69,000	14,250	13,972	278
70,000	14,550	14,297	253
71,000	14,850	14,622	228
72,000	15,150	14,947	203
73,000	15,450	15,272	178
74,000	15,750	15,597	153
75,000	16,050	15,922	128
76,000	16,350	16,247	103
77,000	16,650	16,572	78
78,000	16,950	16,897	53
79,000	17,250	17,222	28
80,000	17,550	17,547	3
81,000	17,920	17,917	3
82,000	18,290	18,287	3
83,000	18,660	18,657	3
84,000	19,030	19,027	3
85,000	19,400	19,397	3
86,000	19,770	19,767	3
87,000	20,140	20,137	3
88,000	20,510	20,507	3
89,000	20,880	20,877	3
90,000	21,250	21,247	3
91,000	21,620	21,617	3
92,000	21,990	21,987	3
93,000	22,360	22,357	3
94,000	22,730	22,727	3
95,000	23,100	23,097	3
96,000	23,470	23,467	3
97,000	23,840	23,837	3
98,000	24,210	24,207	3
99,000	24,580	24,577	3
100,000	24,950	24,947	3
101,000	25,320	25,317	3
102,000	25,690	25,687	3
103,000	26,060	26,057	3
104,000	26,430	26,427	3
105,000	26,800	26,797	3
106,000	27,170	27,167	3
107,000	27,540	27,537	3
108,000	27,910	27,907	3
109,000	28,280	28,277	3
110,000	28,650	28,647	3
111,000	29,020	29,017	3
112,000	29,390	29,387	3
113,000	29,760	29,757	3
114,000	30,130	30,127	3
115,000	30,500	30,497	3
116,000	30,870	30,867	3
117,000	31,240	31,237	3
118,000	31,610	31,607	3
119,000	31,980	31,977	3
120,000	32,350	32,347	3
121,000	32,720	32,717	3
122,000	33,090	33,087	3
123,000	33,460	33,457	3
124,000	33,830	33,827	3
125,000	34,200	34,197	3
126,000	34,570	34,567	3
127,000	34,940	34,937	3
128,000	35,310	35,307	3
129,000	35,680	35,677	3
130,000	36,050	36,047	3
131,000	36,420	36,417	3
132,000	36,790	36,787	3
133,000	37,160	37,157	3
134,000	37,530	37,527	3
135,000	37,900	37,897	3
136,000	38,270	38,267	3
137,000	38,640	38,637	3
138,000	39,010	39,007	3
139,000	39,380	39,377	3
140,000	39,750	39,747	3
141,000	40,120	40,117	3
142,000	40,490	40,487	3
143,000	40,860	40,857	3
144,000	41,230	41,227	3
145,000	41,600	41,597	3
146,000	41,970	41,967	3
147,000	42,340	42,337	3
148,000	42,710	42,707	3
149,000	43,080	43,077	3
150,000	43,450	43,447	3
151,000	43,820	43,817	3
152,000	44,190	44,187	3
153,000	44,560	44,557	3
154,000	44,930	44,927	3
155,000	45,300	45,297	3
156,000	45,670	45,667	3
157,000	46,040	46,037	3
158,000	46,410	46,407	3
159,000	46,780	46,777	3
160,000	47,150	47,147	3
161,000	47,520	47,517	3
162,000	47,890	47,887	3
163,000	48,260	48,257	3
164,000	48,630	48,627	3
165,000	49,000	48,997	3
166,000	49,370	49,367	3
167,000	49,740	49,737	3
168,000	50,110	50,107	3
169,000	50,480	50,477	3
170,000	50,850	50,847	3
171,000	51,220	51,217	3
172,000	51,590	51,587	3
173,000	51,960	51,957	3
174,000	52,330	52,327	3
175,000	52,700	52,697	3
176,000	53,070	53,067	3
177,000	53,440	53,437	3
178,000	53,810	53,807	3
179,000	54,180	54,177	3
180,000	54,550	54,547	3
181,000	55,000	54,997	3
182,000	55,450	55,447	3
183,000	55,900	55,897	3
184,000	56,350	56,347	3
185,000	56,800	56,797	3
186,000	57,250	57,247	3
187,000	57,700	57,697	3
188,000	58,150	58,147	3
189,000	58,600	58,597	3
190,000	59,050	59,047	3
191,000	59,500	59,497	3
192,000	59,950	59,947	3
193,000	60,400	60,397	3
194,000	60,850	60,847	3
195,000	61,300	61,297	3
196,000	61,750	61,747	3
197,000	62,200	62,197	3
198,000	62,650	62,647	3
199,000	63,100	63,097	3
200,000	63,550	63,547	3
201,000	64,000	63,997	3
202,000	64,450	64,447	3
203,000	64,900	64,897	3
204,000	65,350	65,347	3
205,000	65,800	65,797	3
206,000	66,250	66,247	3
207,000	66,700	66,697	3
208,000	67,150	67,147	3
209,000	67,600	67,597	3
210,000	68,050	68,047	3
211,000	68,500	68,497	3
212,000	68,950	68,947	3
213,000	69,400	69,397	3
214,000	69,850	69,847	3

A mistake that many people make in choosing accounting is that the profession is "numbers based," and therefore, good for those with poorer English and communication skills. This is changing. The computers have replaced the number crunching. Now you have to understand and explain the numbers. It's harder to do - but it's also a higher paying role. The question is - are you ready for it?

VET & HE: Can't have integration if you just don't "get" each other.

I am currently studying a unit at the Graduate School of Education, at the University of Melbourne. There is quite a lot discourse on policy - stuff I quite enjoy. As part of this, there is a lot of discussion of overseas models of tertiary/further/higher/post secondary education. 

Kids People don't know how the post secondary
 system fits together.  Also, don't know what to
wear on graduation day.

The problem is, neither I - nor most of my classmates - had much of an idea of what US education is like in reality.   (Obviously we can't rely on an understanding of US education, built on our rubbish American TV shows)

Most of us assumed that in the US, COLLEGE = UNIVERSITY; the terms were perfect synonyms. After this weekends session, that's pretty clearly not the case. 

But just as I was clueless about the US system, the same could be said for many of our students. The vast majority of Australian high school students lack such a basic understanding of what post secondary education landscape is all about, and most will be chasing positions based on brand name/prestige. My economist friends might argue that this was an effective signalling mechanism, but this ignored that fact that "signalling"
 means nothing about the appropriateness of the chosen program for the specific student. 


For VET to HE articulation systems to work there needs to be a better awareness of the post-secondary environment. Indeed, I had graduated from 2 Go8 institutions, been to CIT & UC on occasions, and countless RTOs, and yet it was not until I was working in Holmesglen did our own system really make a lot of sense. 

How can there possibly be better integration of VET and HE when the system is so poorly understood by all stakeholders, other than policy makers and the management of education institutions? 

By way of example

I was at the HERDSA conference on the Gold Coast last year when Prof Bradley gave one of the keynote speeches. One of her key themes was the need for better VET and HE integration (no surprises there).  Upon her discussion of "VET" there were many strange looks about the room, and it was made pretty clear to the conference chair that more than half of the room had no idea what this "VET practice" was all about. So she had to spell it out: "Vocational Education & Training" - remember these are 400 odd relatively senior university types. 

"So do we have any colleagues from TAFE institutions among us here today?"  - The only hand raised was mine. Later on during the conference, It was nice to see our CEO, Bruce Mackenzie turn up to speak on behalf of TDA.  At last I was no longer the lone "TAFE guy" at the HERDSA conference. 

The point is, if the "university professoriate" (contrasting to the non-uni teaching faculty) are largely ignorant of the the full range of post-secondary education, how can we possibly achieve better educational outcomes for the cohort of students that end up in our classrooms? I do not think it an overstatement to say that the well being and livelyhoods depend very much on their ability to navigate articulation programs. 


-Tetracarbon out. 

Dear blog.

Berry Nice Strawberries is a
 business mock-up created to support
a student case study. 

Poor neglected blog. I'm sorry I haven't seen you in a few weeks. I have been busy you see. Ok, let's be honest - I've been seeing other content creation stations. Don't be jealous.

Actually, I'll just come clean. It's Facebook. I have created a whole fake business on Facebook to support the semester long case study I will run in class. You should have a look at it. https://www.facebook.com/BerryNiceStrawberries

I've made a logo and everything. Even promotional videos and scheduled 4 months of status updates in Hootsuite.  The whole thing was designed to create a sense of realism. Students should go and fix a client's problems. In this sense, students might actually feel like they are seeing a real client. I truly hope so. It will certainly be a very interesting project as it progresses forward.

I still think about you blog. I haven't gone. I'm just seeing where the limits of my e Learning adventure can go.  

-Tetracarbon out. 

The duality of learning: the two roles of the "Teacher"

Recently I had to remind students of where the line of help lies. I help them learn, I don't train them to score marks. Specifically I got an email begging to be passed for some reason or another (not usual mind you). The student asked to be passed because I had been helpful in the classroom, so I should likewise help by awarding the passing grade.  The response went something like this:
Dear student: do not mistake my friendly smile, classroom patience, and simple explanations as "easy marking" - You might be shocked.

Most teachers have to do two things: TEACH and ASSESS.  They are not the same thing. 

The person who teaches is there to assist learning.  They are your friend, and it's their job to assist you get ahead in anyway they can. Your job is to get everything out of that person that you can.





The person who assesses is there to measure if learning has occurred. Their role is certification or assurance. They are not your friend, and it's their job to only allow those strong enough to pass.  You job is to demonstrate that you are good enough. (You are of course, aren't you?)

Professor says: "Friends Don’t Let Friends Get Into Finance"

Friends Don’t Let Friends Get Into Finance

The above article is really quite an interesting article but I have to say I am very disappointed with the professor’s attitude towards his students. Possibly on of the one most important things to me is that all of my students are as successful as they possibly can be.  If that means making millions of dollars at investment banks then so be it.

"GOOD NEWS EVERYBODY
You learn the science of money,
But don't go making your own"

It's very very important to me to make sure that everything that I teach in the classroom is somehow related to what the students will do somehow.  That might be immediately related in assessments or alternatively somehow to work practice into the future. To indulge in the belief that your area of expertise is far more important than your students well-being seems to me to be selfish in the extreme. By that, extremely arrogant also.


Don't tell me academics aren't selfish basteds sometimes.