Self Employment Tax Rate for 2015 in australia
For self-employment income earned in 2013 and 2014, the self-employment tax rate is 15.3%. The rate consists of two parts: 12.4% for social security (old-age, survivors, and disability insurance) and 2.9% for Medicare (hospital insurance). For 2013, the Social Security portion of the self-employment tax is 12.4% of your earnings up to $113,700. The maximum you can pay in Social Security for 2013 is $14,098.80. The Medicare portion of the self-employment tax is 2.9% of your income and does not have an income cap. Self-Employment Tax Rate. The 2010 Tax Relief Act reduced the self-employment tax by 2% for self-employment income earned in calendar year 2011. The self-employment tax rate for self-employment income earned in calendar year 2011 was 13.3% (10.4% for Social Security and 2.9% for Medicare). For 2014, the self-employment tax rate is 15.3 percent. The rate is divided into two parts: 12.4 percent for social security and 2.9 percent for Medicare. But as a self-employed individual, you are considered both the employer and the employee, which makes the entire self-employment tax burden yours. The rate is divided into two parts: 12.4 percent for social security and 2.9 percent for Medicare. But as a self-employed individual, you are considered both the employer and the employee, which makes the entire self-employment tax burden yours. The 2010 Tax Relief Act reduced the self-employment tax by 2% for self-employment income earned in calendar year 2011. The self-employment tax rate for self-employment income earned in calendar year 2011 was 13.3% (10.4% for Social Security and 2.9% for Medicare). Answer: The Social Security tax rate currently is 15.3 percent on self-employment income. The rate consists of two parts: 12.4% for social security (old-age, survivors, and disability insurance) and 2.9% for Medicare (hospital insurance). The self-employment tax rate for self-employment income earned in calendar year 2011 was 13.3% (10.4% for Social Security and 2.9% for Medicare). For self-employment income earned in 2010, the self-employment tax rate was 15.3%. The self-employment tax rate for self-employment income earned in calendar year 2011 was 13.3% (10.4% for Social Security and 2.9% for Medicare). The self-employment tax very much follows the camel theory starting at a maximum of $81 in 1951 and growing to a 2015 maximum of $18,130.50, plus 2.9 percent on any excess above $118,500.
$18,130.50