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Entrepreneurship comparison
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http://gyrovague.comUSAFinlandJapanAustraliaSingapore
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San FranciscoHelsinkiTokyoSydneySingapore
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USDEUR100 JPYAUDSGD
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Salary after tax$24,000.00€ 24,000.0024,000.00$24,000.00$24,000.00
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Effective income tax (1)13.28%$3,675.2817.32%€ 5,027.5816.61%4,781.255.36%$1,360.490.24%$56.80
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Salary after mandatory deductions$27,675.28€ 29,027.5828,781.25$25,360.49$24,056.80
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Pension, employee deduction (3)12.20%$3,376.385.15%€ 1,494.92Y14,980/mo1,797.600%$0.0020%$4,811.36
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Pension, employer contribution6%$1,660.5217.55%€ 5,094.340.009.25%$2,345.8516%$3,849.09
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Health insurance9.50%$2,628.002.04%€ 592.169.97%2,869.491.5%$380.41$0.00
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Other payroll taxes4.85%$1,433.251.40%€ 406.390%0.000%$0.000.25%$60.14
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Total cost to employer$36,773.43€ 36,615.3833,448.34$28,086.75$32,777.38
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Take home pay plus pension$29,036.90€ 30,589.2625,797.60$26,345.85$32,660.45
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Employment overhead32.24%$7,736.5325.11%€ 6,026.1231.88%7,650.747.25%$1,740.900.49%$116.94
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Gross income$100,000.00€ 100,000.00100,000.00$100,000.00$100,000.00
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Company profit$63,226.57€ 63,384.6266,551.66$71,913.25$67,222.62
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Corporate tax23.72%$14,998.5620%€ 12,676.9223.54%15,665.0930%$21,573.980%$0.00
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Payable dividends$48,228.01€ 50,707.6950,886.57$50,339.28$67,222.62
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Income or capital gains tax (1)42.30%$20,400.4528.59%€ 14,496.5920%10,177.314%$2,013.570%$0.00
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Dividends after tax44.01%$27,827.5657.13%€ 36,211.1061.17%40,709.2667.20%$48,325.71100.00%$67,222.62
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Pension$5,036.90€ 6,589.261,797.60$2,345.85$8,660.45
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Salary & dividends$51,827.56€ 60,211.1064,709.26$72,325.71$91,222.62
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GRAND TOTAL$56,864.46€ 66,800.3666,506.86$74,671.55$99,883.06
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Tax43.14%33.20%33.49%25.33%0.12%
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Net earnings56.86%66.80%66.51%74.67%99.88%
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Notes
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(1) Sliding scales and exempt amounts used when applicable. For Japan also includes 4% prefectural and 6% municipal taxes.
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(2) For Australia, computes income tax after dividend imputation with full franking credits.
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(3) For Japan, includes both national and corporate pensions at Tokyo rates.
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Basic income tax calculation:
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gross - gross * tax% = net, thus
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gross = net / (1 - tax%)
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