In Australia, the top personal income tax rate hits a whopping 45%, kicking in at $150,000 AUD per year.
Some might argue that other countries (like certain European nations) might have worse tax situations. But trust me, that’s not the whole story.
See, in Australia, the issue with taxes is that all income — whether it’s from investments, wages, or whatever — gets lumped together and taxed at one rate. This setup isn’t friendly to folks like me who focus on investments for Financial Independence, Retire Early (FIRE).