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Thank you Bobbym
Please can you solve this simple taxable income problem so i can have a better understanding for the previous one.
What is the taxable income if the gross income is $32,450, allowable work deductions add to $125 and $280 is donated to recognised charities?
Thanks
Hello everyone
I am having trouble understanding this question. Can you please show me how to solve this problem.
Taxible income tax on this income
$1-$6000 Nil
$6001-$21600 17 cents for each $1 over $6000
$21 601-$52 000 $2652 + 30 cents for each $1 over $21 600
$52001-$62500 $11 772 + 42 cents for each $1 over $52 000
$62 501 and above $16 182 + 47 cents for each $1 over $62 500
Given the Medicare levy is 1.5 % of the taxable income, how much in the total tax (income tax plus the Medicare levy) has to be paid on a taxable income of $69 860
Thank you I really appreciate help
Hi
I am glad to find this forum and I am looking foward to great maths help.
Thank you:D
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