Introduction
Many nations use income taxation to raise domestic revenue. The income taxation rates vary from country to country. Australia is one among the countries with highest taxation rate. Australia uses a system of progressive income taxation in raising her domestic income. In this system, the tax paid is proportional to the income earned. High income earners pay more tax than low-income earners. The bone of contention in this system is that all people are not taxed at equal rates. Low income earners are usually taxed at a percentage lower than 15%, while those with very high income are taxed at a rate ...