INCOME INEQUALITY

There are several indirect taxes in Australia, some of them are:

1) Goods and Service Tax (GST)

2) Luxury Car Tax (LCT)

3) Wine Equalisation Tax (WET)

Then there are also several direct taxes, some of them are:

1) Resident Individual Income tax rates

Resident Tax Rates 2012 - 2014

Taxable income	Tax on this income
$0 – $18,200	Nil
$18,201– $37,000	19c for each $1 over $18,200
$37,001 - $80,000	$3,572 plus 32.5c for each $1 over $37,000
$80,001 - $180,000	$17,547 plus 37c for each $1 over $80,000
$180,001 and over	$54,547 plus 45c for every $1 over $180,000

Australia's Inflation Rate

Just like for unemployment, Australia's Inflation Rate is reported by the Australian Bureau of Statistic (ABS). From 1951 until 2013, Australia Inflation rate averaged 5.3 percent reaching an all time high of 23.9 percent in December of 1951 and a record low of -1.3 percent in June of 1962. In Australia, the inflation rate measures a broad rise or fall in prices that consumers pay for a standard basket of goods.The Governor and the Treasurer of Australia have agreed that the appropriate target for monetary policy in Australia is to achieve an inflation rate of 2–3 per cent, by conducting effective monetary policies.

Australia's unemployment rate for:

Different regions:

Different Age Groups:

As we can see people 15 and below, together with people over 65 represent the largest group of unemployment.

Different ethnic groups:

Men and Women:

Unemployment in Australia

The Australian Bureau of Statistics (ABS) is responsible for reporting Australia's unemployment rate. The ABS defines someone who is unemployed as:
      --> all persons 15 years of age and over who were not employed during the reference week, and:
              1)had actively looked for full-time or part-time work at any time in the four weeks up to the end of the reference week and were available for work in the reference week;

              2)or were waiting to start a new job within four weeks from the end of the reference week and could have started in the reference week if the job had been available then.

In Australia the unemployment rate is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labor force.

In addition, Australia has one of the lowest unemployment rates in the developed world, with an unemployment rate of 5.5%.