Carl paid an income tax of $\$3\ 532$ for the year of assessment (YA) $2022$. Of his gross annua

Question

Carl paid an income tax of $\$3\ 532$ for the year of assessment (YA) $2022$. Of his gross annual income, the amount that will not be subjected to income tax is shown in the following table: ItemAmount of Money Earned Income Relief$\$3000$ Wife Relief$\$2000$ Child Relief$\$4000$ per child Parent Relief$\$5500$ per parent Central Provident Fund (CPF) Contributions$20\%$ of gross income Donations$\$540$ Given that Carl has a wife, $2$ children and $2$ parents, and that for his chargeable income, the gross tax payable for the first $\$40\ 000$ is $\$550$ and the tax rate for the rest is $7\%$. Find his gross annual income.

Accepted Answer

$\$133925$

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Item	Amount of Money
Earned Income Relief	\(\$3000\)
Wife Relief	\(\$2000\)
Child Relief	\(\$4000\) per child
Parent Relief	\(\$5500\) per parent
Central Provident Fund (CPF) Contributions	\(20\%\) of gross income
Donations	\(\$540\)