Search: Look for:   Last 1 Month   Last 6 Months   All time
Home :: World

Oz PM slaps levy on taxpayers to pay for 5.6 billion dollar flood bill

Melbourne , Thu, 27 Jan 2011 ANI

Melbourne, Jan 27(ANI): Australian taxpayers earning over 50,000 dollars a year will be hit with a new levy to help pay the estimated 5.6 billion dollar bill for flood devastation in the country.

 

Prime Minister Julia Gillard announced that the tax would apply to Australians on above-average incomes from July and would raise 1.8 billion dollars.

 

The new tax will only apply in 2011-2012, and those personally affected by the floods will not pay it.

 

Those earning between 50,000 and 100,000 dollars a year would pay an additional 0.5 percent flood levy tax, while those earning over 100,000 dollars would pay an additional one percent tax.

 

"Anyone earning under 50,000 dollars will not pay the levy. In other words it is not like the Medicare levy, which for most taxpayers applies to all their income - it is like income tax rates which apply only above certain income levels," the Age quoted Gillard, as saying.

 

The recent floods have been described as the worst natural disaster in Australia's history, and have hit the northeastern state of Queensland particularly hard.

 

It claimed the lives of 35, and caused an estimated 10 billion dollar damage. (ANI)

 


LATEST IMAGES
Manohar Lal being presented with a memento
Manoj Tiwari BJP Relief meets the family members of late Ankit Sharma
Haryana CM Manohar Lal congratulate former Deputy PM Lal Krishna Advani on his 92nd birthday
King of Bhutan, the Bhutan Queen and Crown Prince meeting the PM Modi
PM Narendra Modi welcomes the King of Bhutan
Post comments:
Your Name (*) :
Your Email :
Your Phone :
Your Comment (*):
  Reload Image
 
 

Comments:


 

OTHER TOP STORIES


Excellent Hair Fall Treatment
Careers | Privacy Policy | Feedback | About Us | Contact Us | | Latest News
Copyright © 2015 NEWS TRACK India All rights reserved.