SOLUTION: chenthe income tax to be paid on a MAN's Salary is calculated as follows
The first $9600 is tax free
The next $10000 is taxed at 4%
The next $5000 is taxed at 7%
And the remain
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-> SOLUTION: chenthe income tax to be paid on a MAN's Salary is calculated as follows
The first $9600 is tax free
The next $10000 is taxed at 4%
The next $5000 is taxed at 7%
And the remain
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Question 889123: chenthe income tax to be paid on a MAN's Salary is calculated as follows
The first $9600 is tax free
The next $10000 is taxed at 4%
The next $5000 is taxed at 7%
And the remainder of his salary is taxed at 12%
(a) Mr koh's salary is $46000. Calculate the income tax.
(b) MR CHEN Pays $4800 in tax. Calculate his salary.? Answer by Theo(13342) (Show Source):
You can put this solution on YOUR website! first 9600 has no tax
next 10000 is taxed at 4% so full 10000 tax is 400.
next 5000 is taxed at 7% so full 5000 tax is 350.
add them all up and tax on the first 24600 is equal to 750.
for mister koh:
46000 - 24600 = 21400
21400 taxed at 12% equals a tax of 2568.
2568 + 750 = a total tax of 3318.
total tax for mister koh is 3318.
for mister chen:
total tax he paid is 4800.
take away 750 and his remaining tax is 4050.
this is the amount that was taxed at 12%.
divide 4050 by 12% and you get 33750.
add 24600 to that and you get 58350
