Friday, 15 March 2013

40% of Hubby's income and bonuses goes to taxman

You've got a lump sum came to your account! the bank rang us after hubby's annual bonus deposited to his accountGosh, I've had so much excitement this week, enthralled to bits, and surely this piece of news tops everything. The only negative news is that the tax man will get 40% of it. Good? NOT!! But still we regularly count our blessings :) Though, it could have been more useful for us if 40% is not subjected for taxation. Well that is how we pay taxes in here and that's what they called 'tax band' where we unfortunately hit the worst. We don't get a single penny from government and yet we pay 40% tax. It's so unfair, huh? So yeah, 6K of hubby's annual bonus goes to the government! All we hope is that, they'll spend it on important things rather than to their unnecessary expenditures like they've always spent in the past. Hence, the economic crisis and the country's struggles to getting up from its huge debts. 

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