Mr Ng and his wife have $4$ children and they stay with his mother. He has an annual income o

Question

Mr Ng and his wife have $4$ children and they stay with his mother. He has an annual income of $\$90\,000$ and is claiming the following reliefs: For this exercise, use the following tax model: the tax on the first $\$40\,000$ of chargeable income is $\$550$, and the next $\$40\,000$ is taxed at $7\%$. Calculate his income tax payable.

Accepted Answer

$\$1355$

IP1U8 8.3.6 PN1 Q1

IP1U8 8.3.6 PN1 Q1

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