Heymath Income Tax Assignment

1a) his total reliefs= $3000+$2500+$(2600x2)
=$ 10700

b) chargeable income= $40900- $10700
= $30200

c) income tax first $9000 = $180next $21200 @ 5% = 5% x 21200
= $1060
total: $180 +$1060= $1240

d) 1060/30200 x 100% = 3.5 %
2. a)(i) total relief = $3000+$1000+$2000+$4000+$9600
= $19600
(ii) $4000x12 = $48000 per year
chargeable income = $48000 -$19600 = $28400

(iii) tax payable =12% x 28400 = $3408

3. total relief = 3000+2000+1500+1500= 8000

chargeable income = 40000-8000
= $ 32000
first 10000= $3200 next 28800 @15% = $4320

his income tax= $3200+ $4320=$7520