Question 1.(a) Total Relief=3000+2500+5200 =$10700(b) 40900-10700 =$30200(c) First $9000 at 2% = 9000×2/100 =$180 Next $21200 at 5%=21200×5/100 =$1060 Total Income tax = 1060+180 = $1240(d) (1240/30200x100) % =4.106%
Question 2.(2i) Total relief =3000+1000+2000+2000+2000+9600 = $19600(2ii) Chargeable income = 48000-19600 = $28400(2iii) tax payable = 12/100 ×28400 = $3408
Question 3.(3) Total relief = 3000+2000+3000 = $8000 Chargable income = 40000-8000 = $32000 First 10000 at 10% = 10/100×10000 = $1000 Next 22000 at 15%= 15/100×22000 = $3300 Income tax =1000+3300 = $4300
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