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Thursday, April 16, 2009

Heymath Income Tax assignment

1a) $3000 + $2500 +2($2600) = $10700
his total reliefs is $10700
1b)$40900 - $10700 = $30200
his chargable income is $30200
1c) first $9000 = 2/100 × 9000
= $180
next $21500 = 5/100 × 21500
=$1075
total income tax = $1255
he have to pay $1255 income tax
1d) 1255 / 30200 x 100 = 4.16%
the percentage is 4.16%

2i)Total relief = 3000 + 1000 + 2000 + 4000 +9600
= $19600
2ii)Chargable income = 12(4000) - 19600
= $28400
2iii)total charge = 12/100 × 28400
= $3408

3) Total relief = 3000 + 2000 + 2(1500)
= $8000
Chargeable income = 40000 - 8000
= $32000
first $10000 = 10/100 × 10000
= $1000
next $22000 = 15/100 × 22000
= $3300
total income tax = 3300 +1000
= $4300

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