Tax for Australian workers just below the OECD average and other news and views
Workers in OECD countries pay one quarter of wages in taxes - OECD Workers in OECD countries paid just over a quarter of their gross wages in tax on average in 2017, with just over half of countries seeing small increases in the personal average tax rate, according to a new OECD report. Taxing Wages 2018 shows that the “net personal average tax rate” – income tax and social security contributions paid by employees, minus any family benefits received, as a share of gross wages – was 25.5% across the OECD. This OECD-wide average rate, calculated for a single person with no children earning an average wage, has remained stable in recent years, but it covers country averages that range from below 15% in Chile, Korea and Mexico to over 35% in Belgium, Denmark and Germany. Electric motors will soon offer freedom and convenience more cheaply and cleanly than internal combustion engines https://t.co/tktyrXz5AE — The Economist (@TheEconomist) April 26, 2018 A look at ...