Using the Namibian Individual income tax table, calculate the: (a) Total annual tax paid by someone...
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Using the Namibian Individual income tax table, calculate the: (a) Total annual tax paid by someone earning N$780 000 per annum. [3 marks] (b) Net income after tax deduction for someone earning the N$780000 per annum. Individual Income Tax Table Rate of tax Taxable income N$0 N$50 000 N$50 001 - N$100 18% of taxable income 000 N$100 001 N$300 000 N$300 001 N$500 000 N$500 001 N$800 000 500 000 - - Not taxable - N$9 000 + 25% of taxable income above N$100 000 N$59 000 + 28% of taxable income above N$300 000 N$800 001 N$1 N$205 000 + 32% of taxable income above N$800 000 N$115 000+ 30% of taxable income above N$500 000 N$1 500 001 and N$429 000 + 37% of taxable above income above N$1500 000 Using the Namibian Individual income tax table, calculate the: (a) Total annual tax paid by someone earning N$780 000 per annum. [3 marks] (b) Net income after tax deduction for someone earning the N$780000 per annum. Individual Income Tax Table Rate of tax Taxable income N$0 N$50 000 N$50 001 - N$100 18% of taxable income 000 N$100 001 N$300 000 N$300 001 N$500 000 N$500 001 N$800 000 500 000 - - Not taxable - N$9 000 + 25% of taxable income above N$100 000 N$59 000 + 28% of taxable income above N$300 000 N$800 001 N$1 N$205 000 + 32% of taxable income above N$800 000 N$115 000+ 30% of taxable income above N$500 000 N$1 500 001 and N$429 000 + 37% of taxable above income above N$1500 000
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a Gross Annual Taxable Income N780000 Tax Bracket N 50000... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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